Form990-PF
Click to see attachment
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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
WILLIAM S PALEY FOUNDATION INC
co BENCIVENGA WARD & COMPANY CPAs PC
Number and street (or P.O. box number if mail is not delivered to street address)420 COLUMBUS AVENUE 304
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
VALHALLA, NY10595
A Employer identification number

13-6085929
B Telephone number (see instructions)

(914) 769-5005
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$175,589,135J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check bullet.............
3 Interest on savings and temporary cash investments 774 774  
4 Dividends and interest from securities... 2,618,351 2,618,351  
5a Gross rents............ 1,031,887 1,031,887  
b Net rental income or (loss) 555,736
6a Net gain or (loss) from sale of assets not on line 10 10,933,795
b Gross sales price for all assets on line 6a 33,262,633
7 Capital gain net income (from Part IV, line 2)... 10,933,795
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 23,404 -143  
12 Total. Add lines 1 through 11........ 14,608,211 14,584,664  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 104,777 52,389   52,389
14 Other employee salaries and wages...... 123,300     123,300
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 238,093 23,809   205,925
b Accounting fees (attach schedule)....... Click to see attachment 167,800 16,780   138,856
c Other professional fees (attach schedule).... Click to see attachment 1,567,049 1,535,647   31,402
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 623,945 446,899   9,500
19 Depreciation (attach schedule) and depletion... Click to see attachment 84,867    
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see list of attachments 486,827 477,862   7,474
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 3,396,658 2,553,386   568,846
25 Contributions, gifts, grants paid....... 5,605,791 4,695,924
26 Total expenses and disbursements. Add lines 24 and 25 9,002,449 2,553,386   5,264,770
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 5,605,762
b Net investment income (if negative, enter -0-) 12,031,278
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 836,305 243,687 243,687
2 Savings and temporary cash investments......... 4,658,704 2,816,933 2,816,933
3 Accounts receivable bullet141,742
Less: allowance for doubtful accounts bullet   191,354 141,742 141,742
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.......... 7,041 67,406 67,406
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 61,765,543 Click to see attachment66,223,906 66,223,906
c Investments—corporate bonds (attach schedule)....... 20,889,870 Click to see attachment28,206,955 28,206,955
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 45,391,087 Click to see attachment52,888,506 52,888,506
14 Land, buildings, and equipment: basis bullet3,466,422
Less: accumulated depreciation (attach schedule) bullet1,638,217 1,913,072 Click to see attachment1,828,205 25,000,000
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 135,652,976 152,417,340 175,589,135
Liabilities 17 Accounts payable and accrued expenses.......... 371,625 397,125
18 Grants payable................. 3,474,879 4,384,746
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment91,547,469 Click to see attachment103,297,631
23 Total liabilities (add lines 17 through 22)......... 95,393,973 108,079,502
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........... 40,259,003 44,337,838
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)..... 40,259,003 44,337,838
30 Total liabilities and net assets/fund balances (see instructions). 135,652,976 152,417,340
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
40,259,003
2
Enter amount from Part I, line 27a .....................
2
5,605,762
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
10,201,633
4
Add lines 1, 2, and 3 ..........................
4
56,066,398
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
11,728,560
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
44,337,838
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 145057 A2 MILK CO LTD ISIN NZATME0002S8 SEDOL BWSRTS7 P 2020-01-01 2021-12-31
b 3660 ALCON INC P 2020-01-01 2021-12-31
c 4085 ALLEGION PLC P 2020-01-01 2021-12-31
d 31 ALPHABET INC-CL A P 2020-01-01 2021-12-31
e 291 ALPHABET INC-CL C P 2020-01-01 2021-12-31
79 AMAZON.COM INC P 2020-01-01 2021-12-31
7506 ARISTA NETWORKS INC P 2020-01-01 2021-12-31
2320 ARTHUR J GALLAGHER & CO P 2020-01-01 2021-12-31
85 BAXTER INTERNATIONAL INC P 2020-01-01 2021-12-31
3804 BERKSHIRE HATHAWAY INC-CL B P 2020-01-01 2021-12-31
58477.858 BLCKRCK HI YLD BND PORT-K P 2020-01-01 2021-12-31
56 BOOKING HOLDINGS INC P 2020-01-01 2021-12-31
2505 BROWN-FORMAN CORP-CLASS B P 2020-01-01 2021-12-31
2531 CARMAX INC P 2020-01-01 2021-12-31
1587 CELANESE CORP P 2020-01-01 2021-12-31
1936 COLGATE-PALMOLIVE CO P 2020-01-01 2021-12-31
9418 COMCAST CORP-CLASS A P 2020-01-01 2021-12-31
208 CONSTELLATION SOFTWARE INC ISIN CA21037X1006 SEDOL B15C4L6 P 2020-01-01 2021-12-31
2249 COPART INC P 2020-01-01 2021-12-31
162 COSTCO WHOLESALE CORP P 2020-01-01 2021-12-31
2741 CREDIT ACCEPTANCE CORP P 2020-01-01 2021-12-31
1969 DIAGEO PLC-SPONSORED ADR P 2020-01-01 2021-12-31
673 DOLLAR GENERAL CORP P 2020-01-01 2021-12-31
7854 EUROFINS SCIENTIFIC ISIN FR0014000MR3 SEDOL BNDPYV1 P 2020-01-01 2021-12-31
895 FACEBOOK INC-CLASS A P 2020-01-01 2021-12-31
6944 FIDELITY NATIONAL INFO SERV P 2020-01-01 2021-12-31
2340 FLEETCOR TECHNOLOGIES INC P 2020-01-01 2021-12-31
7150 HENRY SCHEIN INC P 2020-01-01 2021-12-31
31896 HISCOX LTD ISIN BMG4593F1389 SEDOL BVZHXQ9 P 2020-01-01 2021-12-31
1262 INTERCONTINENTAL EXCHANGE IN P 2020-01-01 2021-12-31
4423 ISHARES 20+ YEAR TREASURY BO P 2020-01-01 2021-12-31
8972 ISHARES JP MORGAN USD EMERGI P 2020-01-01 2021-12-31
0 ISHARES TRUST ISHARES 1-5 YEAR P 2020-01-01 2021-12-31
3569 JACOBS ENGINEERING GROUP INC P 2020-01-01 2021-12-31
95736.934 JPM CORE PLUS BD FD - R6 FUND 3939 P 2020-01-01 2021-12-31
64051.206 JPM HIGH YIELD FD - USD - R6 ISIN US4812C01260 SEDOL B06G8K7 P 2020-01-01 2021-12-31
49666.695 JPM MTGE BACKED SEC FD - R6 FUND 3942 P 2020-01-01 2021-12-31
1005 KLA CORPORATION COM NEW P 2020-01-01 2021-12-31
528 LIBERTY MEDIA CORP-LIBERTY-A P 2020-01-01 2021-12-31
3208 LIBERTY MEDIA CORP-LIBERTY-C P 2020-01-01 2021-12-31
1869 LINDE PLC P 2020-01-01 2021-12-31
2203 MASTERCARD INC - A P 2020-01-01 2021-12-31
1356 MICRON TECHNOLOGY INC P 2020-01-01 2021-12-31
1065 NESTLE SA-SPONS ADR P 2020-01-01 2021-12-31
260 NETFLIX INC P 2020-01-01 2021-12-31
386 NIKE INC -CL B P 2020-01-01 2021-12-31
5473 ORACLE CORP P 2020-01-01 2021-12-31
5520 PERRIGO CO PLC P 2020-01-01 2021-12-31
130113.346 PGIM HIGH YIELD-Q P 2020-01-01 2021-12-31
1768 PROGRESSIVE CORP P 2020-01-01 2021-12-31
1599 PROSUS NV ISIN NL0013654783 SEDOL BJDS7L3 P 2020-01-01 2021-12-31
83900 ROLLS-ROYCE HOLDINGS PLC ISIN GB00B63H8491 SEDOL B63H849 P 2020-01-01 2021-12-31
0 RTS PROSUS N.V. ISIN NL0015000LD0 SEDOL BNLXSX7 P 2020-01-01 2021-12-31
3723 SCHWAB (CHARLES) CORP P 2020-01-01 2021-12-31
0 SIX CIRCLES CREDIT OPPORT P 2020-01-01 2021-12-31
2321 SMITH (A.O.) CORP P 2020-01-01 2021-12-31
3926 TAIWAN SEMICONDUCTOR-SP ADR P 2020-01-01 2021-12-31
278 THERMO FISHER SCIENTIFIC INC P 2020-01-01 2021-12-31
2710 TOPICUS.COM INC-SUB VOTING ISIN CA89072T1021 SEDOL BNGJNT1 P 2020-01-01 2021-12-31
707 UNITEDHEALTH GROUP INC P 2020-01-01 2021-12-31
0 UNIVERSAL MUSIC GROUP NV ISIN NL0015000IY2 SEDOL 7G2128S P 2020-01-01 2021-12-31
0 UNIVERSAL MUSIC GROUP NV ISIN NL0015000IY2 SEDOL BNZGVV1 P 2020-01-01 2021-12-31
0 VANGUARD SHORT-TERM BOND ETF P 2020-01-01 2021-12-31
0 VANGUARD TOT BD MKT IDX-ADM P 2020-01-01 2021-12-31
0 VANGUARD TOTAL BOND MARKET P 2020-01-01 2021-12-31
5950 VANGUARD TOTAL INTL BOND ETF P 2020-01-01 2021-12-31
20389.052 VANGUARD TTL INTL BND-ADM P 2020-01-01 2021-12-31
6964 VISA INC-CLASS A SHARES P 2020-01-01 2021-12-31
54465 VIVENDI ISIN FR0000127771 SEDOL 4834777 P 2020-01-01 2021-12-31
1058 WALT DISNEY CO/THE P 2020-01-01 2021-12-31
963 WASTE MANAGEMENT INC P 2020-01-01 2021-12-31
1950 WAYFAIR INC- CLASS A P 2020-01-01 2021-12-31
0 WELLS FARGO & CO P 2020-01-01 2021-12-31
1845 ZOETIS INC P 2020-01-01 2021-12-31
BBH ALTAROCK - LTG P 2020-01-01 2021-12-31
BBH BARES - LTG P 2020-01-01 2021-12-31
BBH ALTAROCK - LTG P 2020-01-01 2021-12-31
BBH BARES - LTG P 2020-01-01 2021-12-31
BBH ALTAROCK - LTG P 2020-01-01 2021-12-31
BBH BARES - LTG P 2020-01-01 2021-12-31
BBH ALTAROCK - STG P 2021-01-01 2021-12-31
BBH VALLEY FORGE - STG P 2021-01-01 2021-12-31
BBH ALTAROCK - STG P 2021-01-01 2021-12-31
BBH VALLEY FORGE - STG P 2021-01-01 2021-12-31
BBH ALTAROCK - STG P 2021-01-01 2021-12-31
BBH BARES - STG P 2021-01-01 2021-12-31
SELECT EQUITY - MANAGED - LTG P 2020-01-01 2021-12-31
SELECT EQUITY - MANAGED - STG P 2021-01-01 2021-12-31
HIMALAYA - MANGED - LTG P 2020-01-01 2021-12-31
HIMALAYA - MANGED - STG P 2021-01-01 2021-12-31
SELECT EQUITY - PCM LTG P 2020-01-01 2021-12-31
SELECT EQUITY - PCM STG P 2021-01-01 2021-12-31
HIMALAYA - PCM LTG P 2020-01-01 2021-12-31
HIMALAYA - PCM STG P 2021-01-01 2021-12-31
SELECT EQUITY - PARK LTG P 2020-01-01 2021-12-31
SELECT EQUITY - PARK STG P 2021-01-01 2021-12-31
HIMALAYA - PARK LTG P 2020-01-01 2021-12-31
HIMALAYA - PARK STG P 2021-01-01 2021-12-31
80488 - ST CAP GAIN DISTRIBUTION P 2021-01-01 2021-12-31
22304 - ST CAP GAIN DISTRIBUTION P 2021-01-01 2021-12-31
22305 - ST CAP GAIN DISTRIBUTION P 2021-01-01 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 796,087   1,176,815 -380,728
b 272,577   203,928 68,649
c 464,937   335,289 129,648
d 64,565   33,285 31,280
e 610,334   161,394 448,940
257,187   255,337 1,850
2,571,106   1,535,764 1,035,342
269,654   213,242 56,412
6,302   6,829 -527
950,706   606,984 343,722
457,882   412,204 45,678
120,996   102,629 18,367
191,503   119,620 71,883
320,451   246,359 74,092
217,265   92,039 125,226
151,075   126,566 24,509
494,481   244,362 250,119
269,105   84,557 184,548
266,319   116,646 149,673
56,808   36,611 20,197
1,573,087   802,630 770,457
331,894   55,249 276,645
134,594   70,155 64,439
782,367   385,964 396,403
239,610   235,575 4,035
929,042   999,195 -70,153
637,489   288,846 348,643
477,017   388,340 88,677
416,594   262,000 154,594
141,710   126,178 15,532
658,838   723,492 -64,654
1,010,402   1,026,837 -16,435
1,187     1,187
446,454   185,921 260,533
818,684   815,746 2,938
465,012   419,340 45,672
572,989   578,120 -5,131
307,363   99,899 207,464
19,951   15,284 4,667
138,968   104,758 34,210
473,159   345,431 127,728
785,675   636,724 148,951
116,880   107,881 8,999
120,347   17,850 102,497
143,732   127,191 16,541
57,249   33,291 23,958
399,263   211,714 187,549
245,537   481,879 -236,342
724,731   642,331 82,400
152,087   131,093 20,994
197,015   160,592 36,423
105,347   277,614 -172,267
584     584
207,094   115,137 91,957
129     129
140,571   104,894 35,677
517,829   203,518 314,311
141,693   121,118 20,575
130,572   2,142 128,430
232,911   238,397 -5,486
       
       
4,852     4,852
5,777     5,777
438     438
344,465   345,357 -892
490,530   474,249 16,281
1,520,041   640,211 879,830
794,084   2,749,965 -1,955,881
199,439   130,603 68,836
108,701   100,481 8,220
648,145   156,628 491,517
7,115   3,000 4,115
308,487   75,558 232,929
16,501     16,501
3,270     3,270
47,148     47,148
8,876     8,876
13,555     13,555
2,803     2,803
569     -569
533     533
1,628     -1,628
1,446     1,446
468     -468
457     457
1,308,312     1,308,312
103,203     103,203
38,579     38,579
9,011     -9,011
2,203,472     2,203,472
173,815     173,815
68,156     68,156
15,920     -15,920
964,019     964,019
76,044     76,044
25,719     25,719
6,007     -6,007
1,058     1,058
1,609     1,609
590     590
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       -380,728
b       68,649
c       129,648
d       31,280
e       448,940
      1,850
      1,035,342
      56,412
      -527
      343,722
      45,678
      18,367
      71,883
      74,092
      125,226
      24,509
      250,119
      184,548
      149,673
      20,197
      770,457
      276,645
      64,439
      396,403
      4,035
      -70,153
      348,643
      88,677
      154,594
      15,532
      -64,654
      -16,435
      1,187
      260,533
      2,938
      45,672
      -5,131
      207,464
      4,667
      34,210
      127,728
      148,951
      8,999
      102,497
      16,541
      23,958
      187,549
      -236,342
      82,400
      20,994
      36,423
      -172,267
      584
      91,957
      129
      35,677
      314,311
      20,575
      128,430
      -5,486
       
       
      4,852
      5,777
      438
      -892
      16,281
      879,830
      -1,955,881
      68,836
      8,220
      491,517
      4,115
      232,929
      16,501
      3,270
      47,148
      8,876
      13,555
      2,803
      -569
      533
      -1,628
      1,446
      -468
      457
      1,308,312
      103,203
      38,579
      -9,011
      2,203,472
      173,815
      68,156
      -15,920
      964,019
      76,044
      25,719
      -6,007
      1,058
      1,609
      590
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 10,933,795
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 3 325,152
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  
3 Add lines 1 and 2........................... 3 167,235
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 167,235
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 197,052
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c 75,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 272,052
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8  
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 10 104,817
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet104,817 RefundedBullet 11  
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletLEONARD J BENCIVENGA CPA Telephone no.bullet (914) 769-5005

    Located atbullet420 COLUMBUS AVENUE SUITE 304VALHALLANY ZIP+4bullet105951382
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    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
    PATRICK S GALLAGHER Executive Dir.
    16.00     		104,777    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    HENRY A KISSINGER CHAIRMAN/DIR
    1.00     		0    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    WILLIAM C PALEY VICE PRES/DIR
    1.00     		0    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    DANIEL L MOSLEY TREAS&SEC/DIR
    1.00     		0    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    FAIZA J SAEED Director
    1.00     		0    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    JACQUELINE SCALISI Director
    1.00     		0    
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    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
    RUANE CUNNIFF & CO ADVISORY & CUSTODY 464,515
    767 FIFTH AVENUE
    NEW YORK,NY10153
    BENCIVENGA WARD & COMPANY CPAS ACCOUNTING & TAX 108,142
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595
    BROWN BROTHERS HARRIMAN ADVISORY & CUSTODY 179,932
    140 BROADWAY
    NEW YORK,NY10005
    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)
    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
    141,274,263
    b
    Average of monthly cash balances.......................
    1b
    744,932
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    142,019,195
    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
     
    3
    Subtract line 2 from line 1d.........................
    3
    142,019,195
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    2,130,288
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    139,888,907
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    6,994,445
    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
    6,994,445
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    167,235
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    167,235
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    6,827,210
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    6,827,210
    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
    6,827,210
    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 6,827,210
    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...... 1,257,659
    b From 2017...... 1,097,330
    c From 2018......  
    d From 2019......  
    e From 2020...... 1,107,435
    f Total of lines 3a through e ........ 3,462,424
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 5,264,770
    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)........     		0
    d Applied to 2021 distributable amount..... 5,264,770
    e Remaining amount distributed out of corpus  
    5 Excess distributions carryover applied to 2021. 1,562,440 1,562,440
    (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 1,899,984
    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 ..........     		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) .......     		 
    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 ......     		1,899,984
    10 Analysis of line 9:
    a Excess from 2017.... 792,549
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020.... 1,107,435
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    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 e-mail address of the person to whom applications should be addressed:
    PATRICK S GALLAGHER
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY105951382
    bThe form in which applications should be submitted and information and materials they should include:
    NO PARTICULAR FORM REQUIRED, BUT FULL FINANCIAL INFORMATION SHOULD BE DISCLOSED.
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    UNDER THE PROVISION OF THE FOUNDATION'S CHARTER, NO GRANTS MAY BE MADE TO INDIVIDUALS.
    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
    THE GREENPARK FOUNDATION
    420 COLUMBUS AVENUE SUITE 304
    VALHALLA,NY10595     		NONE POF PALEY PARK - PROGRAM SUPPORT 735,000
    CLEAN SOBER STREETS INC
    P O BOX 77114
    WASHINGTON,DC20013     		NONE PC GENERAL OPERATING SUPPORT 20,000
    THE JERUSALEM FOUNDATION
    60 EAST 42ND STREET
    NEW YORK,NY10165     		NONE PC PALEY ART CENTER 100,000
    THE METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		NONE PC GENERAL OPERATING SUPPORT 15,000
    THE MUSEUM OF MODERN ART
    11 WEST 53RD STREET
    NEW YORK,NY10019     		NONE PC GENERAL OPERATING SUPPORT 110,000
    THE PALEY CENTER FOR MEDIA
    25 WEST 52ND STREET
    NEW YORK,NY10019     		NONE PC GENERAL OPERATING SUPPORT 2,624,569
    THE PALEY CENTER FOR MEDIA
    25 WEST 52ND STREET
    NEW YORK,NY10019     		NONE PC PALEY TELEVISON FESTIVAL 501,355
    OXFORD HOUSE
    1010 WAYNE AVENUE
    SILVER SPRING,MD20910     		NONE PC GENERAL OPERATING SUPPORT 20,000
    WASHINGTON PROJECT FOR THE ART
    500 SEVENTEENTH STREET NW
    WASHINGTON,DC20006     		NONE PC GENERAL OPERATING SUPPORT 20,000
    THE PALEY CENTER FOR MEDIA
    25 WEST 52ND STREET
    NEW YORK,NY10019     		NONE PC GENERAL OPERATING SUPPORT 75,000
    NEW YORK PRESBYTERIAN HOSPTIAL
    525 EAST 68TH STREET BOX 123
    NEW YORK,NY10065     		NONE PC GENERAL OPERATING SUPPORT 10,000
    NORTHWEST CENTER FOR THE ARTS
    68 MAIN STREET
    TORRINGTON,CT06790     		NONE PC GENERAL OPERATING SUPPORT 5,000
    BOYS GIRLS CLUB OF GREENWICH
    4 HORSENECK LANE
    GREENWICH,CT06830     		NONE PC GENERAL OPERATING SUPPORT 5,000
    COLUMBIA UNIVERSITY
    475 RIVERSIDE DRIVE
    NEW YORK,NY10015     		NONE PC DEPT OF OPHTHALMOLOGY 2,000
    FRIENDS OF VIRGIN ISLAND NATIONAL P
    PO BOX 811
    ST JOHNS,ST JOHNS00831
    VQ     		NONE PC GENERAL OPERATING SUPPORT 10,000
    WEST HILL POND ASSOCIATION
    29 WHITE PINE LANE
    WEST HARTFORD,CT06107     		NONE PC GENERAL OPERATING SUPPORT 30,000
    SO OTHERS MAY EAT
    71 O STREET NW
    WASHINGTON,DC20001     		NONE PC GENERAL OPERATING SUPPORT 20,000
    VOICES OF ASCENSION
    12 WEST 11TH STREET
    NEW YORK,NY10011     		NONE PC GENERAL OPERATING SUPPORT 10,000
    MADISON SQUARE BOYS GIRLS CLUB FOUN
    250 BRADHURST AVE
    NEW YORK,NY10039     		NONE PC GENERAL OPERATING SUPPORT 15,000
    CENTER FOR STRATEGIC INTERNATIONAL
    1616 RHODE ISLAND AVENUE NW
    WASHINGTON,DC20036     		NONE PC GENERAL OPERATING SUPPORT 15,000
    AMERICAN ACADEMY IN BERLIN
    14 EAST 60TH STREET
    NEW YORK,NY10022     		NONE PC GENERAL OPERATING SUPPORT 7,500
    NATIONAL COALIATION FOR HOMELESS VE
    333 1/2 PENNSYLVANIA AVENUE SE
    WASHINGTON,DC20003     		NONE PC GENERAL OPERATING SUPPORT 20,000
    REACH PREP
    ONE DOCK STREET
    STAMFORD,CT06902     		NONE PC GENERAL OPERATING SUPPORT 40,000
    THE ROCKFELLER UNIVERSITY
    1230 YORK AVENUE BOX 164
    NEW YORK,NY10065     		NONE PC GENERAL OPERATING SUPPORT 25,500
    MICHAEL'S CAUSE
    PO Box 120323
    Staten Island,NY10312     		NONE PC General Operating Support 30,000
    WORLD CENTRAL KITCHEN
    655 New York Ave NW 6th Floor
    Washington,DC20001     		NONE PC General Operating Support 50,000
    TOMLINSON MIDDLE SCHOOL PTA
    200 Unquowa Road
    Fairfield,CT06824     		NONE PC General Operating Support 10,000
    GREENWICH ACADEMY
    200 NORTH MAPLE AVENUE
    GREENWICH,CT06830     		NONE PC General Operating Support 30,000
    NEW HARTFORD LAND TRUST
    PO BOX 272
    NEW HARTFORD,CT06057     		NONE PC General Operating Support 5,000
    TRILATERAL COMISSION NORTH AMERICA
    PO BOX 380810
    CAMBRIDGE,MA02238     		NONE PC General Operating Support 10,000
    THE FOUNDATION FOR CITY COLLEGE
    160 CONVENT AVENUE NAC 6/141
    NEW YORK,NY10031     		NONE PC General Operating Support 75,000
    THE MORRIS CEMETERY ASSOCIATION
    PO BOX 154
    MORRIS,CT06763     		NONE PC Endowment fund 5,000
    THE TREVOR PROJECT INC
    PO BOX 69232
    WEST HOLLYWOOD,CA90069     		NONE PC General Operating Support 20,000
    ONE RECOVERY
    PO BOX 3
    SIERRA MADRE,CA91025     		NONE PC General Operating Support 10,000
    SAFE PLACE FOR YOUTH INC
    578 WASHINGTON BOULEVARD 398
    MARINA DEL REY,CA90292     		NONE PC General Operating Support 15,000
    Total .................................bullet 3a 4,695,924
    bApproved for future payment
    THE JERUSALEM FOUNDATION
    60 EAST 42ND STREET
    NEW YORK,NY10165     		NONE PC PALEY ART CENTER 100,000
    THE MUSEUM OF MODERN ART
    11 WEST 53RD STREET
    NEW YORK,NY10019     		NONE PC GENERAL OPERATING SUPPORT 110,000
    THE PALEY CENTER FOR MEDIA
    25 WEST 52ND STREET
    NEW YORK,NY10019     		NONE PC GENERAL PROGRAM 4,124,746
    THE JERUSALEM FOUNDATION
    60 EAST 42ND STREET
    NEW YORK,NY10165     		NONE PC Innovation 50,000
    Total .................................bullet 3b 4,384,746
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 774  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 555,736  
    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 10,933,795  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aOTHER INCOME     		        23,547
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) ..   14,108,513 23,547
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    14,132,060
    (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: 21013475
    Software Version: 2021v4.1


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AUDIT 42,000 4,200 0 35,604
    TAX & ACCOUNTING 125,800 12,580 0 103,252

    Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

    TY 2021 DepreciationSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
    Life (# of years)    		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
    BUILIDING IMPROVEMENTS 2006-09-28 29,650 13,832 SL 30.0000 988      
    ELEVATOR IMPROVEMENTS 2012-10-01 355,498 97,762 SL 30.0000 11,850      
    LOCAL LAW 11 IMPROVEMENTS 2012-07-01 96,081 27,225 SL 30.0000 3,203      
    ELEVATOR IMPROVEMENTS 2013-10-01 30,562 7,388 SL 30.0000 1,019      
    LOCAL LAW 11 IMPROVEMENTS 2013-07-01 802,108 199,826 SL 30.0000 26,737      
    FRONT GLASS DOORS 2013-12-01 16,425 16,227 SL 7.0000 198      
    LOCAL LAW 11 IMPROVEMENT 2014-03-01 119,905 27,313 SL 30.0000 3,997      
    BACKFLOW DEVICE 2015-03-31 5,508 1,058 SL 30.0000 184      
    STEAM TRAP 2015-03-31 6,147 1,179 SL 30.0000 205      
    FRONT GLASS DOORS 2015-05-31 4,513 3,601 SL 7.0000 645      
    LOCAL LAW 11 IMPROVEMENTS 2016-10-01 20,882 2,958 SL 30.0000 696      
    LOCAL LAW 26 IMPROVEMENTS 2016-10-13 3,500 497 SL 30.0000 117      
    LOCAL LAW 11 IMPROVEMENTS 2017-07-01 145,866 17,017 SL 30.0000 4,862      
    LOCAL LAW 26 IMPROVEMENTS 2017-07-01 35,553 4,148 SL 30.0000 1,185      
    LOCAL LAW 11 IMPROVEMENTS 2018-07-01 248,165 20,680 SL 30.0000 8,272      
    AC COMPRESSOR 2018-07-01 6,870 2,453 SL 7.0000 981      
    STORAGE TANK 2020-01-01 40,000 5,714 SL 7.0000 5,714      
    ELEVATOR DOOR LOCK MONITORING 2020-01-01 5,649 807 SL 7.0000 807      
    LOCAL LAW 26 IMPROVEMENTS 2020-07-01 66,033 6,603 SL 5.0000 13,207      

    TY 2021 GeneralExplanationAttachment
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Identifier Return Reference Explanation
      General Explanation Supplemental Information for Form 990-PF STATEMENT 20FORM 990PF, PART II, LINE 22OTHER LIABILITIESFUNDS HELD FOR THE BENEFIT OF OTHERS -THE PALEY CENTER FOR MEDIA25 WEST 52ND STREETNEW YORK, NY 10019 $ 73,136,409THE GREENPARK FOUNDATION, INCC/O BENCIVENGA WARD & COMPANY, CPAS, PC420 COLUMBUS AVENUE, SUITE 304VALHALLA, NY 10595 $ 28,429,626TOTAL $102,566,035
      General Explanation Supplemental Information for Form 990-PF STATEMENT 21FORM 990PF, PART VII-B, LINE 5CEXEMPTION FROM TAX ON TAXABLE EXPENDITURESDuring 2021, the Foundation made a grant of $735,000 to The Greenpark Foundation, Inc. (Greenpark, Federal ID# 13-6155738). Greenpark is a private operating foundation and has as its sole purpose the ownership, operation, and maintenance of a park open to the public. The officers and directors of Greenpark are also officers/directors of the Foundation. As such they are under common control.During 2021, Greenpark used the grant paid from the Foundation for the operation and maintenance of the park. In addition, Greenpark treated none of the grant as a qualifying distribution on its tax return for 2021 (Form 990PF), thereby allowing the grant of $735,000 to be treated as a qualifying distribution by the Foundation. Due to the common control of Greenpark and the foundation, the foundation has not formalized pre-grant and post-grant letters. It believes the Requirements of IRS Reg. 53.4945-5(d) are satisfied by the indicia of common control of the grantor and grantee.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JPM CORE PLUS 712,738 712,738
    VANGUARD TOTAL BOND 2,812,165 2,812,165
    VANGUARD TOTAL INTERNATION 2,954,474 2,954,474
    JPM MTGE BACKED SEC FD - R6 719,839 719,839
    SIX CIRCLES CREDIT OPPORT 1,156,704 1,156,704
    SIX CIRCLES GLOBAL BOND 2,103,906 2,103,906
    VANGUARD TOTAL BOND MARKET 206,027 206,027
    VANGUARD TTL INTL BND-ADM 126,151 126,151
    BARES MID/LARGE CAP SERIES 2,724,992 2,724,992
    ALTAROCK PARTNERS SERIES 7,768,038 7,768,038
    VALLEY FORGE LARGE CAP 3,626,323 3,626,323
    I SHARES 3-7 YEAR TREASURY BO 709,100 709,100
    I SHARES TRUST ISHARES 1-5 YEAR 718,759 718,759
    VANGUARD SHORT-TERM BOND ETF 1,867,739 1,867,739

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Name of Stock End of Year Book Value End of Year Fair Market Value
    BERKSHIRE HATHAWAY, INC 2,433,032 2,433,032
    DIAGEO PLC 347,381 347,381
    NESTLE S A A/D/R 265,299 265,299
    ROLLS ROYCE GROUP PLC 1,248,386 1,248,386
    JACOBS ENGINEERING GROUP INC 1,426,968 1,426,968
    ALPHABET INC 5,244,362 5,244,362
    CELANESE CORP 497,290 497,290
    ORACLE CORP 390,003 390,003
    CARMAX 3,223,844 3,223,844
    CONSTELLANTION SOFTWARE 2,322,507 2,322,507
    LIBERTY MEDIA GROUP 2,432,155 2,432,155
    MASTERCARD INC 791,582 791,582
    CHARLES SCHWAB CORP 2,508,703 2,508,703
    ZOETIS INC 821,161 821,161
    CREDIT ACCEPTANCE CORP 2,158,628 2,158,628
    BOOKING HOLDINGS 345,489 345,489
    BROWN-FORMAN CORP 342,223 342,223
    COPART INC 646,356 646,356
    DOLLAR GENERAL 295,731 295,731
    FACEBOOK (META PLATFORMS INC) 3,210,797 3,210,797
    KLA-TENCOR CORP 344,088 344,088
    LIBERTY BROADBAND 2,027,649 2,027,649
    LINDE 907,300 907,300
    EUROFINS SCIENTIFIC 1,882,636 1,882,636
    TAIWAN SEMICONDUCTOR 2,949,400 2,949,400
    ALCON INC 591,980 591,980
    PROSUS NV 1,655,057 1,655,057
    ARTHUR J. GALLAGHER & CO 725,170 725,170
    COLGATE-PALMOLIVE CO 328,218 328,218
    COSTCO WAREHOUSE 430,317 430,317
    SMITH A.O. 445,046 445,046
    UNITEDHEALTH CORP 3,291,026 3,291,026
    WAYFAIR INC 2,141,532 2,141,532
    WASTE MANAGEMENT INC 297,082 297,082
    AMAZON.COM INC 713,549 713,549
    BAXTER INTERNATIONAL INC 497,700 497,700
    GRACO INC 334,412 334,412
    INTERCONTINENTAL EXCHANGE IN 1,669,551 1,669,551
    NETFLIX 1,630,805 1,630,805
    NIKE INC - CL B 600,512 600,512
    PROGRESSIVE CORP 494,876 494,876
    STARBUCKS CORP 451,153 451,153
    THERMO FISHER SCIENTIFIC INC 498,428 498,428
    WALT DISNEY CO/THE 1,526,751 1,526,751
    ABBOTT LABORATORIES 449,664 449,664
    ANTHEM INC 2,915,667 2,915,667
    MICRON TECHNOLOGY INC 2,580,348 2,580,348
    S&P GLOBAL INC 418,602 418,602
    SHERWIN-WILLIAMS CO/THE 424,705 424,705
    UNIVERSAL MUSIC GROUP NV 2,048,785 2,048,785

    TY 2021 InvestmentsOtherSchedule2
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    SELECT EQUITY PARTNERSHIP FMV 39,535,287 39,535,287
    HIMALAYA CAPITAL FMV 13,353,219 13,353,219

    TY 2021 LandEtcSchedule2
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    Furniture and Fixtures 10,798 10,798    
    Machinery and Equipment 14,640 14,640    
    Buildings 379,455 379,455   14,492,086
    Improvements 2,720,929 1,223,169 1,497,760 1,497,759
    Land 330,445   330,445 9,000,000
    Miscellaneous 10,155 10,155   10,155


    TY 2021 LegalFeesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADMINISTRATION 238,093 23,809 0 205,925


    TY 2021 OtherDecreasesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Description Amount
    NET CHANGE FOR GREENPARK ENDOWMENT 3,463,838
    NET CHANGE FOR PALEY CENTER FOR MEDIA ENDOWMENT 8,264,722


    TY 2021 OtherExpensesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 1,500      
    FOREIGN EXCHANGE 1,711 1,711    
    GENERAL INSURANCE 2,004     2,004
    PAYROLL PROCESSING FEES 656     656
    Rental Expenses 476,151 476,151    
    SUPPLIES 4,805     4,814


    TY 2021 OtherIncomeSchedule2
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    OTHER INCOME 23,547    
    Other Investment Income -143 -143  


    TY 2021 OtherLiabilitiesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Description Beginning of Year - Book Value End of Year - Book Value
    SECURITY DEPOSITS 47,942 47,942
    SEE STATEMENT #20 90,837,475 102,566,035
    DEFERRED EXCISE TAX 539,852 683,654
    EXCISE TAX 122,200  


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ADMINISTRATION 31,402 0 0 31,402
    ADVISORY & CUSTODY FEES 1,535,647 1,535,647 0 0


    TY 2021 TaxesSchedule
    Name:
    WILLIAM S PALEY FOUNDATION INC
     
    co BENCIVENGA WARD & COMPANY CPAs PC
    EIN:
    13-6085929
    Software ID:
    21013475
    Software Version:
    2021v4.1
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE TAXES 167,546      
    FOREIGN TAXES 437,399 437,399    
    PAYROLL TAXES 19,000 9,500   9,500