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
Klaff Family Foundation
c/o Rita Sawyer
% RITA SAWYER
Number and street (or P.O. box number if mail is not delivered to street address)35 E Wacker Drive Suite 2900
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Chicago, IL60601
A Employer identification number

61-1480716
B Telephone number (see instructions)

(312) 360-1234
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$231,343,739J 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) 2,344,764
2 Check bullet.............
3 Interest on savings and temporary cash investments 1,540,905 1,540,905  
4 Dividends and interest from securities... 5,004,405 5,004,405  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,695,058
b Gross sales price for all assets on line 6a 18,336,297
7 Capital gain net income (from Part IV, line 2)... 4,789,818
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 582,297 293,564  
12 Total. Add lines 1 through 11........ 12,167,429 11,628,692  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 20,408 20,408 0 0
b Accounting fees (attach schedule)....... Click to see attachment 24,450 24,450 0 0
c Other professional fees (attach schedule).... Click to see attachment 5,000 5,000    
17 Interest............... 80,199 80,199    
18 Taxes (attach schedule) (see instructions)... Click to see attachment 429,247 6,458    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 690,807 676,900    
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,250,111 813,415 0 0
25 Contributions, gifts, grants paid....... 8,116,903 8,116,904
26 Total expenses and disbursements. Add lines 24 and 25 9,367,014 813,415 0 8,116,904
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,800,415
b Net investment income (if negative, enter -0-) 10,815,277
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............. 3 1,139,395 1,139,395
2 Savings and temporary cash investments......... 5,017,031 785,528 785,528
3 Accounts receivable bullet269,813
Less: allowance for doubtful accounts bullet   0 269,813 169,327
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)      
b Investments—corporate stock (attach schedule)....... 5,023,731 Click to see attachment6,868,309 8,122,513
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 157,991,292 Click to see attachment162,566,329 221,126,976
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 168,032,057 171,629,374 231,343,739
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 168,032,057 171,629,374
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)..... 168,032,057 171,629,374
30 Total liabilities and net assets/fund balances (see instructions). 168,032,057 171,629,374
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
168,032,057
2
Enter amount from Part I, line 27a .....................
2
2,800,415
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
846,902
4
Add lines 1, 2, and 3 ..........................
4
171,679,374
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
171,679,374
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 SHORT-TERM FROM PASS-THROUGHS      
b LONG-TERM FROM PASS-THROUGHS      
c FIDELITY INVESTMENTS #1098 - ST COVERED      
d WELLS FARGO #1812 - ST COVERED      
e FIDELITY INVESTMENTS #1098 - LT COVERED      
WELLS FARGO #1812 - ST NONCOVERED      
JP MORGAN #5004 - LT NONCOVERED      
(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       451,809
b       337,059
c 9,069,785   8,575,271 484,438
d 16,257   14,237 2,020
e 540,824   500,000 40,824
7,315,673   4,985,763 2,329,910
1,393,758   250,000 1,143,758
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        
b        
c       494,514
d       2,020
e       40,824
      2,329,910
      1,143,758
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 4,789,818
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 150,332
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- ..... 5 150,332
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 148,702
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 115,000
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 263,702
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 113,370
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet113,370 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? Click to see list of attachments....................
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 changesClick to see list of attachments....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
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.Click to see list of attachments
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)
    bulletIL
    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
    Yes
     
    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 ofbulletRITA SAWYER Telephone no.bullet (312) 360-3144

    Located atbullet35 EAST WACKER DRIVE SUITE 2900ChicagoIL ZIP+4bullet60601
    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? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletCJ, VI
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
     
    No
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
     
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
     
    No
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Hersch M Klaff Director
    1.0     		0 0 0
    35 E Wacker Drive Suite 2900
    Chicago,IL60601
    Avril M Klaff Director
    0     		0 0 0
    35 E Wacker Drive Suite 2900
    Chicago,IL60601
    Daniel Klaff Director
    1.0     		0 0 0
    35 E Wacker Drive Suite 2900
    Chicago,IL60601
    Marissa Klaff Director
    1.0     		0 0 0
    35 E Wacker Drive Suite 2900
    Chicago,IL60601
    Zara Klaff Director
    1.0     		0 0 0
    35 E Wacker Drive Suite 2900
    Chicago,IL60601
    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
     
    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
     
    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
    9,010,527
    b
    Average of monthly cash balances.......................
    1b
    2,292,819
    c
    Fair market value of all other assets (see instructions)................
    1c
    224,405,500
    d
    Total (add lines 1a, b, and c).........................
    1d
    235,708,846
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    235,708,846
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    3,535,633
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    232,173,213
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    11,608,661
    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
    11,608,661
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    150,332
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    150,332
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    11,458,329
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    11,458,329
    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
    11,458,329
    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 11,458,329
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 5,053,499
    b Total for prior years:2019, 2018, 2017  
    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$ 8,116,904
    a Applied to 2020, but not more than line 2a 5,053,499
    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..... 3,063,405
    e Remaining amount distributed out of corpus 0
    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 0
    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 ..........     		8,394,924
    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 ......     		0
    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.... 0
    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).)
    HERSCH M KLAFF
    AVRIL R KLAFF
    DANIEL KLAFF
    MARISSA KLAFF
    ZARA KLAFF
    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
    Chicago Lighthouse
    1850 W Roosevelt Rd
    Chicago,IL60608     		None PC General 5,000
    CENTROPACENTRAL EUROPE CENTER FOR RESEARCH & DOC
    Selzergasse 10/5-8
    Wein   1150
    AU     		None PC General 10,000
    LITVAKSIG INC
    41 Country Club Lane
    Pomona,NY10970     		None PC General 5,100
    Jewish United Fund
    Ben Gurion Way 30 S Wells Street
    Chicago,IL60606     		None PC General 20,000
    Chabad of Glencoe
    976 Oak Drive
    Glencoe,IL60022     		None PC General 11,100
    WEST POINT JEWISH CHAPEL FUND HON COL MICKEY MARCU
    750 Merritt Road
    West Point,NY10996     		None PC General 5,000
    CHICAGO A CAPPELLA
    4043 N Ravenswood Avenue Suite 11
    Chicago,IL60613     		None PC General 10,000
    CHICAGO JESUIT ACADEMY
    5058 W Jackson Blvd
    Chicago,IL60644     		None PC General 5,000
    NORTHSHOREGLENBROOK HOSPITAL
    2100 Pfingsten Rd
    Glenview,IL60026     		None PC General 10,000
    HAROLD GRINSPOON FOUNDATION
    67 Hunt Street Suite 100
    Agawam,MA01001     		None PC General 500,000
    JOFFREY BALLET
    10 E Randolph St
    Chicago,IL60601     		None PC General 2,500
    ISRAEL PHILHARMONIC ORCHESTRA
    PO Box 23500
    Tel Aviv   612340
    IS     		None PC General 25,000
    ISRAEL GUIDE DOG CENTER
    968 Easton Road-Suite H
    Warrington,PA18976     		None PC General 50,000
    FUNDACION TZEDAKA USA
    1000 Brickell Ave Ste 480
    Miami,FL33131     		None PC General 50,000
    RAVINIA FESTIVAL 2021
    418 Sheridan Road
    Highland Park,IL60035     		None PC General 9,823
    YIDDISH BOOK CENTER
    1021 West Street
    Amherst,MA01002     		None PC General 5,000
    CROHN'S & COLITIS FOUNDATION
    733 Third Avenue Ste 510
    New York,NY10017     		None PC General 5,000
    THRESHOLDS
    4101 N Ravenswood Ave
    Chicago,IL60613     		None PC General 30,000
    THE FRESH AIR FUND
    633 Third Avenue 14th Floor
    New York,NY10017     		None PC General 10,000
    EMMA'S TORCH
    345 Smith St
    Brooklyn,NY11231     		None PC General 10,000
    HATZOLAH MEDICAL RESCUE
    6501 N Hamlin Ave
    Lincolnwood,IL60712     		None PC General 10,173
    JERUSALEM HILLS THERAPEUTIC CENTERS
    1 Mitzpe St
    Kiryat Yearim   9083800
    IS     		None PC General 10,000
    CONGREGATION KOL EMETH SKOKIE
    5130 Touhy Ave
    Skokie,IL60077     		None PC General 5,936
    ERIKA'S LIGHTHOUSE
    897 1/2 Green Bay Rd
    Winnetka,IL60093     		None PC General 10,000
    ENVIRONMENTAL LAW & POLICY CENTER
    35 East Wacker Drive Suite 1600
    Chicago,IL60601     		None PC General 10,000
    JOHANNESBURG JEWISH HELPING HAND
    53 W Jackson Blvd STE 1734
    Chicago,IL60604     		None PC General 55,000
    AEF FBO KFF Donor Advised Fund
    5700 DARROW RD 118
    Hudson,OH44236     		None PC General See Schedule and FMV Analysis attached. 6,738,834
    AMERICAN ENDOWMENT FOUNDATION
    5700 DARROW RD 118
    HUDSON,OH44236     		NONE PC General 200,000
    BROTHERHOOD SYNAGOGUE
    28 Gramercy Pk S
    New York,NY10003     		None PC General 1,800
    PUSH for Empowered Pregnancy
    34 Quicks Ln
    Katonah,NY10536     		None PC General 1,800
    LUBAVITCH CHABAD OF NORTHBROOK
    2095 Landwehr Rd
    Northbrook,IL60062     		None PC General 5,000
    America Gives Inc (Keren Telfed 2021 Campaign)
    19/1 Schwartz Street
    Raanana   4321224
    IS     		None PC General 5,000
    SYDENHAM SHUL FOUNDATION
    24 Main Street Rouxville
    Johannesburg   2192
    SF     		None PC General 1,778
    Jewish Community Foundation
    30 S Wells Street
    Chicago,IL60606     		None PC General 1,000
    Jewish National Fund
    42 East 69th Sreet
    New York,NY10021     		None PC General 50,000
    AMERICAN FRIENDS OF MIGDAL OHR
    1325 6th Ave 28th Floor
    New York,NY10019     		None PC General 5,000
    SHMAYA SCHOOL IN ISRAEL
    Jabotinsky 155
      Ramat Gan  
    IS     		None PC General 5,000
    CHICAGO HOPE ACADEMY
    2189 W Bowler St
    Chicago,IL60612     		None PC General 5,000
    AMERICAN FRIENDS OF BEIT ISSIE SHAPIRO
    25 W 45th St 1405
    New York,NY10036     		None PC General 1,800
    HANOVER VOLUNTEER FIRE DEPT
    6850 Barrington Rd
    Hanover Park,IL60133     		None PC General 1,000
    JEWISH TELEGRAPHIC AGENCY
    520 Eighth Avenue 4th Floor
    New York,NY10018     		None PC General 5,000
    COUNCIL FOR JEWISH ELDERLY
    3003 W Touhy Ave
    Chicago,IL60645     		None PC General 5,000
    JEWISH WOMEN'S AID
    35 Ballards Ln
    London   N3 9EG
    UK     		None PC General 13,659
    Hillel International
    800 Eighth Street NW
    Washington DC,DC20001     		None PC General 5,000
    INNOCENCE PROJECT
    40 Worth Street Suite 701
    New York,NY10013     		None PC General 18,000
    CHICAGO BOTANIC GARDEN
    1000 Lake Cook Rd
    Glencoe,IL60022     		None PC General 5,000
    The Ark
    6450 N California Ave
    Chicago,IL60645     		None PC General 5,000
    JEWISH WOMEN'S FOUNDATION
    30 S Wells St
    Chicago,IL60606     		None PC General 54,000
    DANIEL MURPHY SCHOLARSHIP FUND
    309 W Washington St STE 700
    Chicago,IL60606     		None PC General 15,000
    The Chicago High School for the Arts (CHI Arts)
    2714 W Augusta Blvd
    Chicago,IL60622     		None PC General 10,000
    AMERICAN JEWISH COMMITTEE
    PO Box 7247
    Philadelphia,PA19170     		None PC General 10,000
    CHALLENGED ATHLETES FOUNDATION
    9591 Waples St
    San Diego,CA92121     		None PC General 10,000
    FRIENDS OF UNITED HATZALAH
    208 E 51st St Suite 303
    New York,NY10022     		None PC General 50,000
    PEF Isreal Endowment Fund
    630 3rd Avenue
    New York,NY10017     		None PC General 3,600
    Rescue Dogs
    Sodra Catalinagrand 19A
    Taby,Uppland18368
    SW     		None PC General 5,000
    Total .................................bullet 3a 8,116,903
    bApproved for future payment
    Total .................................bullet 3b  
    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 1,540,905  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 2,695,058  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue: a
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 288,733 9,533,932  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    9,822,665
    (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
    Klaff Family Foundation
    c/o Rita Sawyer
    Employer identification number

    61-1480716
    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
    Klaff Family Foundation
    c/o Rita Sawyer         		Employer identification number
    61-1480716
    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
    MONS Investments LLC FEIN 03-044
    35 East Wacker Drive Suite 2900
     
    Chicago, IL60601

    		$ 2,344,764


    (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.)
    (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
    Klaff Family Foundation
    c/o Rita Sawyer         		Employer identification number

    61-1480716
    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
    1
    		 249,673 SHARES OF Z1P CO LTD $ 2,344,764 2021-02-24
    (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
    Klaff Family Foundation
    c/o Rita Sawyer         		Employer identification number

    61-1480716
    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:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 24,450 24,450    

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

    TY 2021 DepreciationSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    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

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Name of Stock End of Year Book Value End of Year Fair Market Value
    GOLUB CAPITAL PARTNERS INT 11 194,508 267,590
    GOLUB CAPITAL PARTNERS INT 9 239,537 449,527
    LAKE SHORE III CORPORATION 15,942 34,089
    HPS MEZZ INVESTORS III 505,051 817,996
    ERGOS OFFSHORE FUND 837 0
    GOLUB CAPITAL PARTNERS INT II 153,685 224,740
    GOLUB CAPITAL PARTNERS INT 12 597,874 692,756
    COZAD ASSET MANAGEMENT 43,616 0
    FIDELITY INVESTMENTS 256,412 303,706
    RIVERS INVESTMENTS 4,610,847 5,059,424
    NEWLAKE CAPITAL PARTNERS INC 0 0
    ATLAS SPACE OPERATIONS INC 250,000 272,685

    TY 2021 InvestmentsOtherSchedule2
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    FLASH MEMORY INNOVATIONS LLC FMV 0 0
    LITIGATION FINANCE LLC FMV 0 0
    PATENT CAPITAL LLC FMV 43,616 39,561
    PET CARE INNOVATIONS LLC FMV 200,000 212,000
    PETRUS LAND INVESTORS I, LP FMV 22,101 14,297
    PETRUS LAND INVESTORS II, LP FMV 87,320 156,000
    ROUNDTABLE HEALTHCARE CAPITAL FMV 2,582 2,259
    ROUNDTABLE HEALTHCARE CAPITAL FMV 979,762 964,096
    DEERPATH CAP ADVANTAGE IV FMV 1,034,298 1,033,117
    OAK HARBOR CAPITAL OPPORTUNITE FMV 0 0
    MORGAN LENDER LLC FMV 782,370 770,000
    VALOR EQUITY PARTNERS II LP FMV 2,436,510 118,928
    VEGAS LAND INVESTORS LLC FMV 0 0
    INTEGRATED FUNDING LLC FMV 380,000 380,000
    PORTFOLIO TRADE SECRETS LLC FMV 52,946 52,946
    CRESCENT COVE CAPITAL II LP FMV 355,045 567,113
    UPPER90 OCTANE LLC FMV 4,915 51,312
    SILVER POINT SPECIALTY CREDIT FMV 3,280,480 3,353,971
    HYDE PARK VENTURE PARTNERS FUN FMV 260,107 560,603
    CRESENT COVE CAPITAL FUND B FMV 1,125,971 1,231,554
    RE-SOURCING SPV FMV 1,005,831 1,000,000
    AXIOM CONCENTRATED GLOBAL GROW FMV 0 0
    AXIOM EM WORLD EQUITY FUND FMV 293,617 330,127
    ATLAS POINT ENERGY INFRASTRUCT FMV 0 0
    JACKSON LENDER LLC FMV 549,193 500,000
    BJC VENTURES LLC FMV 33,376 0
    BLF LOAN FUND IV LLC FMV 1,500,000 1,500,000
    LCP INVESTMENTS (SCHWAB) FMV 2,873,283 3,206,524
    CIBC INVESTMENTS (SCHWAB) FMV 1,071,060 1,486,829
    FM CIVAN INVESTMENT II LP FMV 247,732 288,294
    FORTRESS CREDIT OPPORTUNTIES F FMV 706,544 735,905
    UPPER90 FUND II LP FMV 1,101,027 1,424,422
    ABS KLAFF EQUITY LLC FMV 5,196,866 6,899,752
    ABS OPPORTUNITIES LLC FMV 36,161,880 48,680,722
    A-S KLAFF OPPORTUNITIES LLC FMV 34,654,636 46,961,091
    BRYANSTON OPPORTUNITES LLC FMV 10,061,888 13,419,228
    K-SATURN OPPORTUNITIES LLC FMV 31,709,448 54,366,388
    AXIOM INTERNATIONAL SMALL CAP FMV 694,367 921,203
    OAKTREE OPPORTUNITIES FUND XI FMV 1,571,107 1,851,547
    SILVER POINT CAPITAL OFFSHORE FMV 3,000,000 4,259,035
    BOREALIS STRATEGIC CAP PARTNER FMV 882,645 1,020,004
    HPS CORE SR LENDING OFFSHORE F FMV 1,008,994 1,001,984
    HERON ROCK ACCESS J3 LP FMV 200,000 377,600
    INTRINSIC EDGE CAPTURE OFFSHOR FMV 3,000,000 3,893,062
    INTRINSIC EDGE PLUS OFFSHORE L FMV 0 0
    GOLUB GEMS FUND 5 INTERNATIONA FMV 1,003,996 1,439,315
    OAKMARK GLOBAL SELECT FMV 0 0
    OAKMARK INTERNATIONAL SMALL CA FMV 0 0
    OAKMARK INTERNATIONAL FMV 0 0
    UPPER90 OCTANE LLC LOAN RECIEV FMV 0 0
    RECOM TRADING LOAN RECIEVABLE FMV 6,500,000 6,577,547
    UPL (GLENROCK LUX) LP - GRPE1 FMV 1,092,384 1,092,271
    PARAFI DIGITAL OPPORTUNITIES I FMV 1,000,000 1,058,821
    STORELIFT FMV 218,415 100,957
    SB INVESTMENT GROUP LLC FMV 252,501 250,000
    UPL (GLENROCK LUX) LP - GRPE2 FMV 1,084,800 1,076,129
    GIRAFFE BIOENERGY LTD FMV 50,000 50,000
    PAXIS KEY FOCUS FUND LLC FMV 269,521 270,000
    JSA NEWCO LTD (CO-INVESTMENT) FMV 1,349,511 1,349,511
    K-SATURN LLC FMV 76,650 78,365
    A-S KLAFF EQUITY LLC FMV 174,797 252,767
    SPIRAL SUN FUND II LP FMV 67,511 75,000
    SLOPE FUND I, LP FMV 49,550 52,500
    LATITUDE X, LP - MONZO I FMV 338,938 349,969
    BUNDLAR, LLC FMV 100,000 100,000
    UV ANGEL (UV PARTNERS INC.) FMV 250,000 250,000
    LEAP SERVICES INC. FMV 99,978 99,978
    RECOM TRADING LLC - PENNY WARR FMV 0 2,956,112
    Z1P CO, LTD FMV 0 0
    NLCP HOLDINGS LP FMV 16,260 16,260

    TY 2021 LegalFeesSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL FEES 20,408 20,408    


    TY 2021 OtherExpensesSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LISCENSES 10 10    
    POSTAGE 17 17    
    MISCELLANEOUS 13,907 0    
    FOREIGN TAX PAID 7,719 7,719    
    PORTFOLIO DEDUCTIONS 111,541 111,541    
    OTHER PORTFOLIO DEDUCTIONS 2% 431,654 431,654    
    BANK FEES 1,590 1,590    
    PAYROLL EXPENSES 122,924 122,924    
    HEALTH INSURANCE EXPENSES 1,445 1,445    


    TY 2021 OtherIncomeSchedule2
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Ordinary Business Income 362,290 362,290  
    Royalties 6,122 6,122  
    Section 1231 Gain/Loss -507 -507  
    Other Income 164,001 164,001  
    Section 1256 Gain/Loss 13,532 13,532  
    Rental Real Estate Income/Loss -2,882 -2,882  
    Tax Exempt Income 780 780  
    Section 988 Gain/Loss 38,249 38,249  
    Section 1296 Gain/Loss 712 712  
    UBTI taxed on 990-T 0 -288,733  


    TY 2021 OtherIncreasesSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Description Amount
    UNREALIZED GAIN 846,902


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PROFESSIONAL FEES 5,000 5,000    


    TY 2021 TaxesSchedule
    Name:
    Klaff Family Foundation
     
    c/o Rita Sawyer
    EIN:
    61-1480716
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FEDERAL INCOME TAX 422,789 0    
    STATE INCOME TAX 6,458 6,458