TY 2021 Form 990PF

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	10,242	9,267	9,267
	2	Savings and temporary cash investments.........	103,545	100,605	100,605
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........	200
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis 123,200
		Less: accumulated depreciation (attach schedule)	123,200	123,200	123,200
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	237,187	233,072	233,072
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................	78,880	79,880
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	78,880	79,880
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........	60,107	54,992
	25	Net assets with donor restrictions............	98,200	98,200
		Foundations that do not follow FASB ASC 958, check here
		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).....	158,307	153,192
	30	Total liabilities and net assets/fund balances (see instructions).	237,187	233,072

(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.)
1a
b
c
d
e

(e) Gross sales price		(f) Depreciation allowed (or allowable)	(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69
(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
d
e

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3
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
6	Credits/Payments:

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

7	Total credits and payments. Add lines 6a through 6d..............		7
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax0	Refunded	11

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
KAREN A SHAFER	President 10.00	0
PO BOX 638 MT VISION,NY13810
RALPH BLOOM III	VP/SECRETARY 0.50	0
PO BOX 638 MT VISION,NY13810
CHARLES E STEELE	VP/Treasurer 0.50	0
PO BOX 638 MT VISION,NY13810
DR MARION TERENZIO	Trustee 0.00	0
PO BOX 638 MT VISION,NY13810
DAVID MCNAMARA	Trustee 0.00	0
PO BOX 638 MT VISION,NY13810

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	Hosted residencies for 43 Artists and Educators (including 2 veterans). As our program allows the inclusion of partners and children during the residency period, 3 additional adults and 2 children were hosted. Post COVID, as Artists are trying to re frame their lives and careers, many of the residencies were truncated and scheduling was more complicated.	27,464
2	Collaborated with UpState Production Services, whose art program is called VISIONARY to present artists and increase audience engagement in Central Otsego County. As COVID restrictions lifted, the fall program was presented with funding from a NYSCA Regrant program via Earlville Opera House. A second grant was received for programming in June 2022. Visionary was unable to open at that time and the program did not proceed. The funds from the second grant are being deferred until their appropriate utilization is redetermined.	5,000
3	Maintained property acquired for environmental conservation and ecological sustainability.	3,839
4	Continued affiliation with the Antarctic Artists and Writers Collaborative. Hosted a convening of these artists, attendees included the program director from the US Antarctic Program and National Science Foundation.	3,322

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

		(a) Corpus	(d) 2021
1 Distributable amount for 2021 from Part X, line 7			11,434
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......	12,914
b From 2017......	36,966
c From 2018......	52,846
d From 2019......	52,081
e From 2020......	67,676
f Total of lines 3a through e ........		222,483
4Qualifying distributions for 2021 from Part
XI, line 4: $ 42,311
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.....			11,434
e Remaining amount distributed out of corpus		30,877
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		253,360
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) ...		12,914
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		240,446
10 Analysis of line 9:
a Excess from 2017....	36,966
b Excess from 2018....	52,846
c Excess from 2019....	52,081
d Excess from 2020....	67,676
e Excess from 2021....	30,877

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

b 85% (0.85) of line 2a .........
c Qualifying distributions from Part XI, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part IX, line 6 for each year listed ..
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

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

Karen Shafer
PO Box 638
Mt Vision,NY13810
(607) 432-3453
Karen@auntkarensfarm.org

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

Participation is by invitation only. All residents must be referred by a member of the Advisory Council, Leadership Team or an Affiliate. Current Affiliates include the New York Foundation for the Arts (NYFA), SUNY Cobleskill, Visionary, and the Antarctic Artists and Writers Collaborative.

cAny submission deadlines:

None

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

Limited to culture (including arts and education) and environment (including sustainable agriculture). Variables on the COVID regulations have caused some confusion in programming.

3 Grants and Contributions Paid During the Year or Approved for Future Payment
aPaid during the year
Upstate Production Services PO Box 702 Mt Vision,NY13810	NONE	Artist presentation	5,000
Total ................................. 3a	5,000

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
1a	AKFF has an affiliation with the NYS Foundation for the Arts, SUNY and the Antarctica Artists & Writers Collective. When program participants are referred by these agencies, they are currently granted residencies. Other artists, referred by members of the Advisory Council seeking residencies within the mission are allowed, if scheduling is possible.
1b	Usage fees for mission related usage with Fenimore Art Museum
1c	NYSCA regrants via Earlville Opera
XVI-B	Our affiliates have the expertise to evaluate artists and agrarians who are appropriate for our programming aspirations. Significant scientific research has demonstrated that creative process is enhanced when artists work in a rural natural environment. Artists are provided "artist directed" opportunities, if there is studio space available.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements
1b(3)	7,200	AKF Otsego LLC	Donated use of space to house programs when space was required in excess of space rented: $7,200.

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

	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)


1	Contributions, gifts, grants, etc., received (attach schedule)	25,280
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	60		60	60
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10
b	Gross sales price for all assets on line 6a
7	Capital gain net income (from Part IV, line 2)...
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		12,860
12	Total. Add lines 1 through 11........	38,200		60	60
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		3,075	1,000		2,075
c	Other professional fees (attach schedule)....		5,415			5,415
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		2,982			2,978
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............	19,741				19,741
21	Travel, conferences, and meetings.......	370				370
22	Printing and publications..........
23	Other expenses (attach schedule).......		6,732			6,732
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	38,315		1,000		37,311
25	Contributions, gifts, grants paid.......	5,000				5,000
26	Total expenses and disbursements. Add lines 24 and 25	43,315		1,000		42,311
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-5,115
b	Net investment income (if negative, enter -0-)			0
c	Adjusted net income (if negative, enter -0-)...				60

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
NONE

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........
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 ............
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) ..				60	12,860

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

Software ID:	21013475
Software Version:	2021v4.1


(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...................

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
Upstate Production Services PO Box 702 Mt Vision,NY13810	NONE		Artist presentation	5,000
Total ................................. 3a				5,000

bApproved for future payment

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

Name of organization AKF FOUNDATION FOR CULTURE AND ENVIRONMENT

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	O'Grady Foundation 140 East 81st St Suite 5C New York, NY10028	$ 5,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
2	AKF Otsego LLC Box 1250 Cooperstown, NY13326	$ 7,200	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
3	Earlville Opera House NYS regrant 18 E Main Street Earlville, NY13332	$ 5,000	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
4	Robert Grahm Small 300 Churchville Ave 59 Staunton, VA244013214	$ 8,550	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2021)

Name of organization AKF FOUNDATION FOR CULTURE AND ENVIRONMENT		Employer identification number 26-3398852

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
2	In-kind facility use rental	$ 7,200	2022-09-30
(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)


Name of organization AKF FOUNDATION FOR CULTURE AND ENVIRONMENT			Employer identification number 26-3398852
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.) $ Use duplicate copies of Part III if additional space is needed.

Description	Revenue and Expenses per Books	Disbursements for Charitable Purposes
Antartic artists & writers reunion	3,322	3,322
Artistic hospitality fees	1,878	1,878
Artistic residencies (piano tuner)	300	300
Bank fees	244	244
Insurance	858	858
Miscellaneous	130	130

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
AAWC Convening	4,810
Facility usage-Fenimore	3,050
NYSCA regrant	5,000

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Artistic consultant	4,000	0	0	4,000
Caretaker/hospitality	1,415	0	0	1,415

Category	Amount	Disbursements for Charitable Purposes
Char filing fee	75	75
Excise tax	4
Property taxes	1,132	1,132
School taxes	1,771	1,771