TY 2021 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2021

Open to Public Inspection

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

Name of foundation
SAUL FOUNDATION FOR PROGRESS INC
C/O NIXON PEABODY LLP MICHAEL J COONEY

Number and street (or P.O. box number if mail is not delivered to street address)799 9TH STREET NW 500
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
WASHINGTON, DC200015327

A Employer identification number

47-4954803

B Telephone number (see instructions)

(202) 585-8188

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$40,204,461J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	26		26
4	Dividends and interest from securities...	403,824		403,824
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		768,174
b	Gross sales price for all assets on line 6a 7,438,836
7	Capital gain net income (from Part IV, line 2)...			768,174
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).......		11,551	-103
12	Total. Add lines 1 through 11........	1,183,575		1,171,921
13	Compensation of officers, directors, trustees, etc.	0		0	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........		9,968	0	9,968
b	Accounting fees (attach schedule).......		50,000	5,000	45,000
c	Other professional fees (attach schedule)....		448,622	347,723	100,899
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		5,708	5,683	25
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		40,983	732	7,027
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	555,281		359,138	162,919
25	Contributions, gifts, grants paid.......	998,746			998,746
26	Total expenses and disbursements. Add lines 24 and 25	1,554,027		359,138	1,161,665
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-370,452
b	Net investment income (if negative, enter -0-)			812,783
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2021)

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	331,781	459,873	459,873
	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..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......	32,576,226	39,733,474	39,733,474
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	12,436	11,114	11,114
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	32,920,443	40,204,461	40,204,461
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	0	0
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	32,920,443	40,204,461
	29	Total net assets or fund balances (see instructions).....	32,920,443	40,204,461
	30	Total liabilities and net assets/fund balances (see instructions).	32,920,443	40,204,461

Part III

Analysis of Changes in Net Assets or Fund Balances

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

32,920,443

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

-370,452

Other increases not included in line 2 (itemize) bullet

7,654,470

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

40,204,461

Decreases not included in line 2 (itemize) bullet

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

40,204,461

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	1000 SHS AIRBUS SEADR USD		2019-08-06	2021-02-03
b	750 SHS AIRBUS SEADR USD		2019-12-18	2021-02-03
c	3750 SHS AIRBUS SEADR USD		2019-08-01	2021-02-03
d	75 SHS AON PLC		2020-05-29	2021-04-19
e	250 SHS BERKSHIRE HATHAWAY INC		2019-12-18	2021-03-09
	200 SHS BERKSHIRE HATHAWAY INC		2019-12-18	2021-04-08
	75 SHS BERKSHIRE HATHAWAY INC		2019-03-11	2021-04-08
	300 SHS BLACKSTONE INC		2019-12-18	2021-06-25
	350 SHS BLACKSTONE INC		2019-12-18	2021-06-21
	300 SHS BLACKSTONE INC		2019-12-18	2021-07-22
	1650 SHS THE CARLYLE GROUP		2020-05-29	2021-03-10
	3225 SHS THE CARLYLE GROUP		2020-04-13	2021-03-19
	575 SHS THE CARLYLE GROUP		2020-04-13	2021-03-18
	1175 SHS THE CARLYLE GROUP		2020-05-29	2021-03-18
	160 SHS L3HARRIS TECHNOLOGIES INC		2019-12-18	2021-02-16
	320 SHS L3HARRIS TECHNOLOGIES INC		2019-12-18	2021-02-17
	20 SHS L3HARRIS TECHNOLOGIES INC		2019-12-18	2021-02-12
	135 SHS L3HARRIS TECHNOLOGIES INC		2019-08-06	2021-02-12
	350 SHS L3HARRIS TECHNOLOGIES INC		2019-08-06	2021-01-28
	65 SHS L3HARRIS TECHNOLOGIES INC		2019-08-06	2021-01-25
	225 SHS MOTOROLA SOLUTIONS INC		2019-12-18	2021-04-16
	175 SHS MOTOROLA SOLUTIONS INC		2020-04-21	2021-04-16
	400 SHS ORACLE CORP		2018-05-01	2021-06-08
	100 SHS ORACLE CORP		2018-05-01	2021-04-19
	125 SHS REGENERON PHARMACEUTICALS		2020-05-27	2021-05-05
	27 SHS REGENERON PHARMACEUTICALS		2020-12-08	2021-05-05
	400 SHS T MOBILE US INC		2020-06-24	2021-04-08
	85 SHS TRAVELERS COMPANIES INC THE		2018-05-01	2021-02-16
	115 SHS TRAVELERS COMPANIES INC THE		2016-09-27	2021-02-16
	265 SHS TRAVELERS COMPANIES INC THE		2018-05-01	2021-02-12
	410 SHS TRAVELERS COMPANIES INC THE		2016-09-27	2021-02-17
	3250 SHS VISTRA CORP		2019-12-18	2021-03-22
	2700 SHS VISTRA CORP		2019-08-27	2021-03-22
	1150 SHS WAL-MART INC		2021-03-04	2021-06-25
	250 SHS WAL-MART INC		2021-04-16	2021-06-25
	300 SHS ACTIVISION BLIZZARD INC		2021-07-22	2021-11-16
	1200 SHS ACTIVISION BLIZZARD INC		2021-04-08	2021-11-16
	700 SHS ACTIVISION BLIZZARD INC		2021-12-12	2021-11-16
	800 SHS ACTIVISION BLIZZARD INC		2021-08-16	2021-11-16
	400 SHS ACTIVISION BLIZZARD INC		2021-03-10	2021-11-16
	150 SHS ACTIVISION BLIZZARD INC		2021-05-13	2021-11-16
	30 SHS ACTIVISION BLIZZARD INC		2021-03-16	2021-11-16
	400 SHS ACTIVISION BLIZZARD INC		2021-04-16	2021-11-16
	1300 SHS ACTIVISION BLIZZARD INC		2021-04-05	2021-11-16
	100 SHS ACTIVISION BLIZZARD INC		2021-05-13	2021-11-16
	400 SHS ACTIVISION BLIZZARD INC		2021-04-16	2021-11-16
	150 SHS ACTIVISION BLIZZARD INC		2021-03-10	2021-11-19
	200 SHS AIRB US SE ADR		2019-10-23	2021-02-02
	4500 SHS AIRBUS SE ADR		2019-10-01	2021-02-02
	3500 SHS AIRB US SE ADR		2019-09-20	2021-02-02
	2100 SHS AIRBUS SE ADR		2019-10-15	2021-02-02
	12 SHS ALPHABET INC CLASS C		2019-12-18	2021-08-30
	125 SHS ANALOG DEVICES INC		2019-12-18	2021-08-30
	150 SHS AON PLC		2020-05-29	2021-06-21
	250 SHS AON PLC		2020-05-29	2021-08-18
	25 SHS AON PLC		2020-05-29	2021-08-18
	343 SHS AON PLC		2019-09-20	2021-08-30
	25 SHS AON PLC		2019-09-20	2021-08-18
	152 SHS AON PLC		2019-09-20	2021-10-28
	23 SHS AON PLC		2019-10-15	2021-10-28
	105 SHS AON PLC		2019-09-20	2021-10-01
	200 SHS APPLE INC		2019-10-18	2021-10-19
	275 SHS APPLE INC		2019-10-18	2021-10-28
	217 SHS APPLE INC		2019-12-18	2021-10-01
	486 SHS APPLE INC		2019-12-18	2021-12-01
	195 SHS APPLE INC		2019-12-18	2021-08-30
	150 SHS BERKSHIRE HATHAWAY INC		2019-10-23	2021-02-21
	315 SHS BERKSHIRE HATHAWAY INC		2019-10-15	2021-04-08
	35 SHS BERKSHIRE HATHAWAY INC		2019-10-15	2021-01-21
	25 SHS BERKSHIRE HATHAWAY INC		2019-10-04	2021-08-30
	185 SHS BERKSHIRE HATHAWAY INC		2019-10-04	2021-04-18
	215 SHS BERKSHIRE HATHAWAY INC		2019-09-20	2021-01-21
	500 SHS BERKSHIRE HATHAWAY INC		2019-10-04	2021-10-12
	585 SHS BLACKSTONE INC		2019-12-18	2021-09-15
	300 SHS BLACKSTONE INC		2019-09-20	2021-12-07
	264 SHS BLACKSTONE INC		2019-12-18	2021-10-01
	599 SHS BLACKSTONE INC		2019-12-18	2021-09-14
	200 SHS BLACKSTONE INC		2019-12-18	2021-08-30
	637 SHS BLACKSTONE INC		2019-12-18	2021-08-27
	300 SHS BLACKSTONE INC		2019-09-20	2021-10-28
	615 SHS BLACKSTONE INC		2019-12-18	2021-09-09
	950 SHS THE CARLYLE GROUP		2019-10-15	2021-03-18
	1450 SHS THE CARLYLE GROUP		2019-10-04	2021-03-18
	4300 SHS THE CARLYLE GROUP		2019-10-04	2021-03-19
	1900 SHS THE CARLYLE GROUP		2019-09-20	2021-01-21
	1750 SHS THE CARLYLE GROUP		2019-10-15	2021-03-10
	450 SHS THE CARLYLE GROUP		2019-09-20	2021-03-10
	10800 SHS THE CARLYLE GROUP COST BASIS ADJ		2019-10-15	2021-03-19
	240 SHS CIGNA CORP		2019-12-18	2021-12-02
	160 SHS CSX CORP		2018-05-01	2021-08-30
	1000 SHS CSX CORP		2018-05-01	2021-10-01
	18 SHS D R HORTON INC		2019-10-23	2021-10-12
	145 SHS D R HORTON INC		2019-10-23	2021-08-30
	282 SHS D R HORTON INC		2019-10-18	2021-10-12
	362 SHS D R HORTON INC		2019-10-23	2021-10-01
	125 SHS D R HORTON INC		2019-10-23	2021-04-08
	200 SHS HONEYWELL INTL INC		2019-12-18	2021-12-07
	545 SHS INTEL CORP		2021-03-05	2021-10-22
	50 SHS INTEL CORP		2021-03-16	2021-10-22
	115 SHS INTEL CORP		2021-03-05	2021-10-22
	1000 SHS INTEL CORP		2021-03-09	2021-10-22
	100 SHS INTEL CORP		2021-03-16	2021-10-22
	750 SHS INTEL CORP		2021-03-10	2021-10-22
	1200 SHS INTEL CORP		2021-03-09	2021-10-22
	750 SHS INTEL CORP		2021-03-10	2021-10-22
	125 SHS J P MORGAN CHASE & CO		2020-02-10	2021-08-30
	50 SHS J P MORGAN CHASE & CO		2019-09-20	2021-03-09
	183 SHS J P MORGAN CHASE & CO		2020-02-10	2021-10-01
	450 SHS J P MORGAN CHASE & CO		2019-10-23	2021-03-09
	700 SHS L3HARRIS TECHNOLOGIES INC		2019-10-04	2021-01-21
	50 SHS L3HARRIS TECHNOLOGIES INC		2019-09-20	2021-01-21
	700 SHS L3HARRIS TECHNOLOGIES INC		2019-11-05	2021-01-21
	150 SHS L3HARRIS TECHNOLOGIES INC		2019-10-23	2021-01-21
	350 SHS L3HARRIS TECHNOLOGIES INC		2019-10-15	2021-01-21
	165 SHS LENNAR CORP CL A		2019-10-23	2021-10-12
	300 SHS LENNAR CORP CL A		2019-10-23	2021-04-08
	1035 SHS LENNAR CORP CL A		2019-10-04	2021-10-12
	135 SHS LENNAR CORP CL A		2019-10-23	2021-08-30
	34 SHS MEDTRONIC PLC		2021-10-06	2021-12-15
	587 SHS MEDTRONIC PLC		2021-08-27	2021-12-15
	23 SHS MEDTRONIC PLC		2021-10-22	2021-12-15
	593 SHS MEDTRONIC PLC		2021-08-30	2021-12-15
	600 SHS MEDTRONIC PLC		2021-10-12	2021-12-15
	953 SHS MEDTRONIC PLC		2021-11-17	2021-12-15
	106 SHS MICROSOFT CORP		2019-09-20	2021-10-01
	130 SHS MOTOROLA SOLUTIONS INC		2019-09-20	2021-10-01
	400 SHS MOTOROLA SOLUTIONS INC		2019-09-20	2021-04-16
	65 SHS MOTOROLA SOLUTIONS INC		2019-09-20	2021-08-30
	300 SHS ORACLE CORP		2019-10-15	2021-06-08
	600 SHS ORACLE CORP		2019-10-04	2021-10-12
	400 SHS ORACLE CORP		2019-10-04	2021-07-22
	110 SHS ORACLE CORP		2019-10-04	2021-08-30
	338 SHS ORACLE CORP		2019-10-04	2021-10-01
	200 SHS ORACLE CORP		2019-10-04	2021-06-08
	115 SHS RAYTHEON TECHNOLOGIES CORP		2019-12-18	2021-08-30
	155 SHS REGENERON PHARMACEUTICALS		2020-05-27	2021-05-05
	33 SHS REGENERON PHARMACEUTICALS		2020-12-08	2021-05-05
	100 SHS SWEETGREEN INC		2021-11-18	2021-11-18
	145 SHS T MOBILE US INC		2020-06-24	2021-08-30
	300 SHS T MOBILE US INC		2020-06-24	2021-04-14
	175 SHS UNION PACIFIC CORP		2020-02-10	2021-12-07
	122 SHS UNION PACIFIC CORP		2020-02-10	2021-10-01
	30 SHS UNION PACIFIC CORP		2020-02-06	2021-10-01
	70 SHS UNION PACIFIC CORP		2020-02-06	2021-08-30
	2500 SHS VISTRA CORP		2019-11-05	2021-03-22
	4850 SHS VISTRA CORP		2019-10-04	2021-03-22
	300 SHS VISTRA CORP		2019-09-20	2021-03-22
	250 SHS WAL-MART INC		2021-04-16	2021-06-25
	700 SHS WAL-MART INC		2021-03-18	2021-06-25
	85 SHS WALT DISNEY CO		2019-12-18	2021-08-30
	75 SHS ACTIVISION BLIZZARD INC		2021-07-23	2021-11-16
	83 SHS ACTIVISION BLIZZARD INC		2021-02-10	2021-11-16
	30 SHS BLACKSTONE INC		2020-01-31	2021-07-23
	86 SHS THE CARLYLE GROUP		2020-05-19	2021-05-04
	377 SHS THE CARLYLE GROUP		2020-01-31	2021-05-04
	162 SHS COMCAST CORPNEW CL A		2021-02-10	2021-09-21
	0.2 SHS KNDRYL HLDGS INC		2021-07-20	2021-11-08
	234 SHS DOMINION ENERGY INC		2019-10-23	2021-09-21
	51 SHS DOMINION ENERGY INC		2020-01-31	2021-09-21
	153 SHS DTE ENERGY CO		2019-10-23	2021-02-10
	71 SHS NESTLE		2020-03-09	2021-02-10
	137 SHS TEXAS INSTRUMENTS INC		2020-08-18	2021-07-20
	62 SHS TRAVELERS COMPANIES INC		2019-10-23	2021-07-20
	85 SHS TRUIST FIN CORP		2021-02-10	2021-06-01
	406 SHS TRUIST FIN CORP		2019-10-23	2021-06-01
	44 SHS UNILEVER PLC		2019-10-23	2021-09-30
	163 SHS UNILEVER PLC		2019-10-23	2021-07-20
	38 SHS UNILEVER PLC		2019-10-23	2021-10-21
	252 SHS VISTRA CORP		2020-01-31	2021-05-04
	297 SHS VISTRA CORP		2019-10-23	2021-05-04
	66 SHS WAL-MART INC		2020-03-09	2021-07-20
	405 SHS WELLS FARGO & CO		2019-10-23	2021-09-15
	185 SHS WELLS FARGO & CO		2021-07-20	2021-09-15
	3 SHS 3M COMPANY		2021-01-29	2021-11-11
	80 SHS 3M COMPANY		2020-01-14	2021-11-11
	4 SHS 3M COMPANY		2020-06-26	2021-11-11
	18 SHS 3M COMPANY		2020-07-06	2021-11-11
	43 SHS 3M COMPANY		2020-01-14	2021-11-08
	36 SHS 3M COMPANY		2021-04-14	2021-06-24
	49 SHS 3M COMPANY		2020-01-14	2021-06-24
	124 SHS ACTIVISION BLIZZARD INC		2021-11-02	2021-12-21
	159 SHS ACTIVISION BLIZZARD INC		2021-11-08	2021-12-21
	24 SHS ADYEN N V UNSPONSRED ADR		2020-01-14	2021-06-04
	183 SHS ADYEN N V UNSPONSRED ADR		2020-01-14	2021-06-03
	167 SHS ADYEN N V UNSPONSRED ADR		2020-01-14	2021-03-31
	169 SHS ADYEN N V UNSPONSRED ADR		2020-01-14	2021-01-06
	204 SHS AIA GROUP LTD SPON ADR		2020-01-14	2021-09-27
	359 SHS AIA GROUP LTD SPON ADR		2020-01-14	2021-09-23
	113 SHS AIA GROUP LTD SPON ADR		2020-01-14	2021-07-27
	4 SHS AIA GROUP LTD SPON ADR		2020-01-14	2021-07-27
	31 SHS AIR PROD & CHEM INC		2020-11-13	2021-09-28
	15 SHS AIR PROD & CHEM INC		2021-01-29	2021-09-28
	63 SHS AIR PROD & CHEM INC		2021-04-14	2021-09-28
	4 SHS AIR PROD & CHEM INC		2020-01-14	2021-09-28
	1 SHS AIR PROD & CHEM INC		2020-01-14	2021-09-28
	48 SHS AMERICAN TOWER CORP		2020-01-14	2021-08-17
	1 SHS AMERICAN TOWER CORP		2020-01-14	2021-08-17
	49 SHS APPLE INC		2021-04-14	2021-08-17
	10 SHS ASML HOLDING NV NY REG NEW		2020-01-14	2021-08-12
	118 SHS AT&T INC		2020-06-26	2021-01-28
	106 SHS AT&T INC		2020-07-06	2021-01-28
	286 SHS AT&T INC		2020-01-14	2021-01-28
	1 SHS AT&T INC		2020-01-14	2021-01-12
	703 SHS AT&T INC		2020-01-14	2021-01-12
	119 SHS BECTON DICKINSON & CO		2020-01-14	2021-08-13
	11 SHS BECTON DICKINSON & CO		2020-01-04	2021-08-13
	174 SHS CELLNEX TELECOM SA UNS ADR		2020-11-23	2021-05-03
	183 SHS CELLNEX TELECOM SA UNS ADR		2020-11-24	2021-05-03
	123 SHS CELLNEX TELECOM SA UNS ADR		2020-12-02	2021-05-03
	203 SHS CELLNEX TELECOM SA UNS ADR		2021-01-08	2021-05-03
	61 SHS CELLNEX TELECOM SA UNS ADR		2021-01-27	2021-05-03
	46 SHS COMCAST CORP (NEW) CLASS A		2020-01-14	2021-12-07
	89 SHS COMCAST CORP (NEW) CLASS A		2020-01-14	2021-10-12
	88 SHS COMCAST CORP (NEW) CLASS A		2020-01-14	2021-07-09
	69 SHS COMCAST CORP (NEW) CLASS A		2021-04-14	2021-05-13
	181 SHS COMCAST CORP (NEW) CLASS A		2020-01-14	2021-05-13
	389 SHS COMCAST CORP (NEW) CLASS A		2021-04-14	2021-04-29
	214 SHS COMCAST CORP (NEW) CLASS A		2020-01-14	2021-03-08
	8 SHS ELASTIC N V		2020-02-11	2021-07-21
	211 SHS ERSTE GROUP BANK AG SPONS		2020-01-14	2021-02-10
	164 SHS ERSTE GROUP BANK AG SPONS		2020-01-14	2021-02-09
	138 SHS ERSTE GROUP BANK AG SPONS		2020-01-14	2021-02-08
	151 SHS ERSTE GROUP BANK AG SPONS		2020-01-14	2021-02-05
	155 SHS ERSTE GROUP BANK AG SPONS		2020-01-14	2021-02-04
	325 SHS FANUC CORPORATION		2020-01-14	2021-11-05
	4 SHS FANUC CORPORATION		2020-01-14	2021-11-05
	56 SHS FIDELITY NATL INFORMATION SE		2020-09-24	2021-12-22
	1 SHS FIDELITY NATL INFORMATION SE		2020-09-30	2021-12-22
	42 SHS FIDELITY NATL INFORMATION SE		2020-12-03	2021-12-22
	21 SHS FIDELITY NATL INFORMATION SE		2021-04-14	2021-12-20
	30 SHS FIDELITY NATL INFORMATION SE		2020-09-30	2021-12-20
	30 SHS GIVAUDAN SA ADR		2020-01-14	2021-07-21
	40 SHS GIVAUDAN SA ADR		2020-01-14	2021-06-25
	22 SHS INTL BUSINESS MACHINES CORP		2020-11-13	2021-07-14
	12 SHS INTL BUSINESS MACHINES CORP		2021-04-14	2021-07-14
	1 SHS INTL BUSINESS MACHINES CORP		2020-01-14	2021-07-14
	34 SHS INTL BUSINESS MACHINES CORP		2020-03-20	2021-07-14
	17 SHS INTL BUSINESS MACHINES CORP		2020-07-06	2021-07-14
	52 SHS INTL BUSINESS MACHINES CORP		2020-01-14	2021-07-09
	134 SHS INTL BUSINESS MACHINES CORP		2020-01-14	2021-02-04
	29 SHS INTL BUSINESS MACHINES CORP		2020-02-27	2021-01-25
	41 SHS INTL BUSINESS MACHINES CORP		2020-01-14	2021-01-25
	118 SHS JOHNSON & JOHNSON		2021-04-14	2021-08-17
	126 SHS JPMORGAN CHASE & CO		2020-01-14	2021-08-17
	164.5 SHS JUST EAT TAKEAWAY		2020-04-09	2021-11-15
	66 SHS JUST EAT TAKEAWAY		2020-04-17	2021-11-15
	62.5 SHS JUST EAT TAKEAWAY		2020-06-17	2021-11-15
	161 SHS JUST EAT TAKEAWAY		2020-06-17	2021-11-11
	18.5 SHS JUST EAT TAKEAWAY		2020-04-14	2021-11-10
	71.5 SHS JUST EAT TAKEAWAY		2020-04-29	2021-11-10
	15 SHS JUST EAT TAKEAWAY		2020-06-17	2021-11-10
	91.5 SHS JUST EAT TAKEAWAY		2020-04-16	2021-11-04
	23 SHS JUST EAT TAKEAWAY		2020-04-29	2021-11-04
	46.5 SHS JUST EAT TAKEAWAY		2020-04-30	2021-11-04
	47.5 SHS JUST EAT TAKEAWAY		2020-04-30	2021-11-01
	304.5 SHS JUST EAT TAKEAWAY		2020-05-20	2021-11-01
	155.5 SHS JUST EAT TAKEAWAY		2020-10-20	2021-08-27
	105 SHS JUST EAT TAKEAWAY		2020-10-27	2021-08-27
	26 SHS JUST EAT TAKEAWAY		2020-05-20	2021-08-27
	91 SHS JUST EAT TAKEAWAY		2020-06-04	2021-08-27
	8.5 SHS JUST EAT TAKEAWAY		2020-07-06	2021-08-27
	0.5 SHS JUST EAT TAKEAWAY		2020-04-09	2021-06-04
	363 SHS KAO CORP		2020-01-14	2021-03-12
	388 SHS KAO CORP		2020-01-14	2021-03-05
	718 SHS KAO CORP		2020-01-14	2021-03-03
	360 SHS KAO CORP		2020-09-18	2021-03-02
	406 SHS KAO CORP		2020-01-14	2021-03-02
	12 SHS KAO CORP		2020-01-14	2021-03-02
	148 SHS LEGRAND SA		2020-01-14	2021-07-21
	19 SHS MEDTRONIC PLC SHS		2021-04-14	2021-12-22
	299 SHS MERCK & CO INC		2020-01-14	2021-08-17
	44 SHS MICROSOFT CORP		2021-04-14	2021-10-26
	116 SHS MICROSOFT CORP		2021-04-14	2021-08-17
	245 SHS NINTENDO CO LTD		2020-01-14	2021-10-21
	186 SHS NINTENDO CO LTD		2020-01-14	2021-10-01
	150 SHS NINTENDO CO LTD		2020-01-14	2021-05-13
	3 SHS NINTENDO CO LTD		2020-01-14	2021-05-10
	218 SHS NINTENDO CO LTD		2020-01-14	2021-05-10
	207 SHS NOVARTIS AG ADR		2020-01-14	2021-01-27
	153 SHS NOVARTIS AG ADR		2020-01-14	2021-01-25
	109 SHS NOVARTIS AG ADR		2020-01-14	2021-01-22
	210 SHS ORACLE CORP		2020-01-14	2021-07-12
	40 SHS ORACLE CORP		2020-01-14	2021-07-09
	1.3 SHS ORGANON & CO		2020-06-26	2021-06-08
	5.1 SHS ORGANON & CO		2020-07-06	2021-06-08
	1.8 SHS ORGANON & CO		2020-11-13	2021-06-08
	10.1 SHS ORGANON & CO		2021-01-29	2021-06-08
	26.7 SHS ORGANON & CO		2021-04-14	2021-06-08
	63 SHS ORGANON & CO		2020-01-14	2021-06-08
	0.1 SHS ORGANON & CO		2020-01-14	2021-06-03
	59 SHS PAYPAL HLDGS INC COM		2020-01-14	2021-07-09
	25 SHS PAYPAL HLDGS INC COM		2020-11-13	2021-03-08
	329 SHS PFIZER INC		2020-01-14	2021-08-17
	276 SHS PFIZER INC		2020-01-14	2021-05-26
	50 SHS PIONEER NATURAL RESOURCES CO		2020-01-14	2021-08-17
	1 SHS PIONEER NATURAL RESOURCES CO		2020-01-14	2021-08-17
	43 SHS PPG INDUSTRIES INC		2021-04-14	2021-08-17
	2 SHS PPG INDUSTRIES INC		2020-01-14	2021-08-17
	94 SHS PROCTER & GAMBLE		2021-04-14	2021-08-17
	2 SHS SHOPIFY INC		2021-01-29	2021-05-07
	40 SHS SHOPIFY INC		2020-01-14	2021-05-07
	37 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-09
	9 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-09
	48 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-08
	7 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-04
	29 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-03
	38 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-02-01
	21 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-01-15
	51 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-01-14
	53 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-01-05
	18 SHS SOCIEDAD QUIMICA Y MINERA		2020-01-14	2021-01-04
	48 SHS SOLAREDGE TECHNOLOGIES INC		2020-05-07	2021-05-11
	7 SHS SOLAREDGE TECHNOLOGIES INC		2020-05-07	2021-05-04
	4 SHS SOLAREDGE TECHNOLOGIES INC		2020-07-08	2021-05-04
	4 SHS SOLAREDGE TECHNOLOGIES INC		2020-07-08	2021-04-14
	16 SHS SOLAREDGE TECHNOLOGIES INC		2020-07-08	2021-03-30
	82 SHS SPOTIFY TECHNOLOGY SA		2020-01-14	2021-05-11
	2 SHS SPOTIFY TECHNOLOGY SA		2020-01-14	2021-05-11
	19 SHS SPOTIFY TECHNOLOGY SA		2020-01-14	2021-05-04
	17 SHS SPOTIFY TECHNOLOGY SA		2020-01-14	2021-03-11
	119 SHS STONECO LTD CL A		2020-01-14	2021-11-23
	102 SHS STONECO LTD CL A		2020-01-14	2021-11-22
	95 SHS STONECO LTD CL A		2020-01-14	2021-11-18
	132 SHS STONECO LTD CL A		2020-01-14	2021-10-12
	90 SHS TARGET CORPORATION		2020-01-14	2021-08-17
	144 SHS TEAMVIEWER AG ADR		2020-02-10	2021-10-19
	189 SHS TEAMVIEWER AG ADR		2020-03-24	2021-10-19
	97 SHS TEAMVIEWER AG ADR		2020-02-06	2021-10-12
	36 SHS TEAMVIEWER AG ADR		2020-02-10	2021-10-12
	4 SHS TEAMVIEWER AG ADR		2020-02-05	2021-10-07
	42 SHS TEAMVIEWER AG ADR		2020-02-06	2021-10-07
	198 SHS TEAMVIEWER AG ADR		2020-02-11	2021-10-07
	191 SHS TEAMVIEWER AG ADR		2020-10-20	2021-10-06
	121 SHS TEAMVIEWER AG ADR		2020-02-05	2021-10-06
	101 SHS TEAMVIEWER AG ADR		2020-03-03	2021-10-06
	204 SHS TEAMVIEWER AG ADR		2020-03-04	2021-10-06
	60 SHS TEAMVIEWER AG ADR		2020-03-05	2021-10-06
	159 SHS TEAMVIEWER AG ADR		2020-05-15	2021-10-06
	24 SHS TEMENOS AG SPONSORED ADR		2020-01-14	2021-11-17
	22 SHS THOMSON REUTERS CORP		2020-02-25	2021-05-05
	46 SHS TJX COS INC NEW		2021-04-14	2021-08-17
	48 SHS TOKYO ELECTRON LTD		2020-01-21	2021-09-30
	59 SHS TOKYO ELECTRON LTD		2020-01-21	2021-08-17
	77 SHS TOKYO ELECTRON LTD		2020-01-14	2021-08-13
	1 SHS TOKYO ELECTRON LTD		2020-01-21	2021-08-13
	74 SHS TOKYO ELECTRON LTD		2020-01-14	2021-05-13
	72 SHS TOKYO ELECTRON LTD		2020-01-14	2021-05-12
	57 SHS TOKYO ELECTRON LTD		2020-01-14	2021-05-06
	4 SHS TOKYO ELECTRON LTD		2020-01-14	2021-05-06
	1 SHS TOKYO ELECTRON LTD		2020-01-14	2021-05-06
	238 SHS U S BANCORP COM		2020-01-14	2021-08-17
	265 SHS UMICORE SA ADR		2020-01-14	2021-03-11
	212 SHS UMICORE SA ADR		2020-01-14	2021-03-09
	189 SHS UMICORE SA ADR		2020-01-14	2021-03-05
	164 SHS UMICORE SA ADR		2020-01-14	2021-03-03
	159 SHS UMICORE SA ADR		2020-01-14	2021-03-02
	281 SHS UMICORE SA ADR		2020-01-14	2021-03-01
	107 SHS UMICORE SA ADR		2020-01-14	2021-02-18
	126 SHS UMICORE SA ADR		2020-01-14	2021-02-12
	102 SHS UMICORE SA ADR		2020-01-14	2021-02-05
	83 SHS UMICORE SA ADR		2020-01-14	2021-02-04
	19 SHS UNITED PARCEL SER		2021-01-29	2021-08-18
	31 SHS UNITED PARCEL SER		2021-04-14	2021-08-18
	3 SHS UNITED PARCEL SER		2020-01-14	2021-08-18
	41 SHS UNITED PARCEL SER		2021-04-14	2021-08-17
	364 SHS VESTAS WIND SYSTEMS ADS		2020-10-27	2021-05-26
	65 SHS VESTAS WIND SYSTEMS ADS		2020-10-12	2021-05-25
	416 SHS VESTAS WIND SYSTEMS ADS		2020-10-27	2021-05-25
	362 SHS VESTAS WIND SYSTEMS ADS		2020-10-12	2021-05-21
	723 SHS VESTAS WIND SYSTEMS ADS		2020-10-12	2021-05-18
	156.813 SHS VIATRIS INC		2020-01-14	2021-01-07
	8.686 SHS VIATRIS INC		2020-04-29	2021-01-07
	24.567 SHS VIATRIS INC		2020-06-26	2021-01-07
	8.934 SHS VIATRIS INC		2020-07-06	2021-01-07
	52 SHS WALT DISNEY CO HLDG CO		2021-04-14	2021-08-18
	62 SHS WASTE MGMT INC (DELA)		2021-04-14	2021-08-17
	11 SHS WASTE MGMT INC (DELA)		2020-01-14	2021-08-17
	CAPITAL GAINS DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	26,966	33,643	-6,677
b	20,225	27,196	-6,971
c	101,124	134,457	-33,333
d	17,693	14,796	2,897
e	64,633	56,539	8,094
	52,662	45,231	7,431
	19,748	15,111	4,637
	29,437	15,995	13,442
	34,276	18,661	15,615
	33,202	15,995	17,207
	59,864	44,853	15,011
	117,222	71,308	45,914
	20,962	12,714	8,248
	42,836	31,941	10,895
	29,606	31,704	-2,098
	60,419	63,409	-2,990
	3,714	3,963	-249
	25,072	27,561	-2,489
	62,000	71,455	-9,455
	12,030	13,270	-1,240
	42,443	36,348	6,095
	33,011	25,379	7,632
	33,878	18,228	15,650
	7,848	4,557	3,291
	60,421	64,375	-3,954
	13,051	13,232	-181
	52,009	41,200	10,809
	12,407	11,078	1,329
	16,785	13,114	3,671
	38,497	34,538	3,959
	60,733	46,754	13,979
	54,414	78,055	-23,641
	45,205	64,652	-19,447
	159,078	148,418	10,660
	34,582	35,155	-573
	19,927	27,076	-7,149
	79,709	115,828	-36,119
	46,497	52,619	-6,122
	53,139	66,842	-13,703
	26,570	36,806	-10,236
	9,964	14,012	-4,048
	1,993	2,799	-806
	26,570	38,644	-12,074
	86,351	125,481	-39,130
	6,642	9,342	-2,700
	26,570	38,644	-12,074
	9,964	13,802	-3,838
	5,295	6,682	-1,387
	119,135	146,061	-26,926
	92,660	116,130	-23,470
	55,596	69,004	-13,408
	35,015	16,251	18,764
	20,926	14,707	6,219
	35,033	29,591	5,442
	69,784	49,318	20,466
	6,978	4,932	2,046
	98,404	66,559	31,845
	6,978	4,851	2,127
	48,732	29,496	19,236
	7,374	4,428	2,946
	30,401	20,375	10,026
	29,726	13,981	15,745
	41,939	19,224	22,715
	30,470	15,170	15,300
	82,410	33,974	48,436
	29,860	13,632	16,228
	35,234	31,479	3,755
	82,943	65,607	17,336
	8,221	7,290	931
	7,164	5,168	1,996
	48,713	38,242	10,471
	50,503	44,911	5,592
	139,934	103,357	36,577
	78,520	31,120	47,400
	43,618	15,284	28,334
	30,299	14,044	16,255
	78,900	31,865	47,035
	25,190	10,639	14,551
	79,138	33,886	45,252
	41,445	15,338	26,107
	79,606	32,716	46,890
	34,633	24,127	10,506
	52,861	35,179	17,682
	156,296	104,324	51,972
	64,842	49,376	15,466
	63,493	44,444	19,049
	16,327	11,694	4,633
	2,660		2,660
	47,401	47,682	-281
	5,438	3,165	2,273
	30,443	19,781	10,662
	1,506	962	544
	14,018	7,752	6,266
	23,589	14,818	8,771
	30,500	19,354	11,146
	11,420	6,683	4,737
	41,559	35,155	6,404
	27,169	33,128	-5,959
	2,492	3,266	-774
	5,733	6,990	-1,257
	49,851	62,334	-12,483
	4,985	6,268	-1,283
	37,389	47,043	-9,654
	59,822	74,800	-14,978
	37,389	47,043	-9,654
	20,146	17,146	3,000
	7,628	5,980	1,648
	30,326	25,102	5,224
	68,654	56,054	12,600
	128,640	143,724	-15,084
	9,189	10,713	-1,524
	128,640	135,033	-6,393
	27,566	29,991	-2,425
	64,320	72,629	-8,309
	15,582	10,209	5,373
	30,755	18,562	12,193
	97,745	61,606	36,139
	14,609	8,353	6,256
	3,542	4,281	-739
	61,155	78,576	-17,421
	2,396	2,831	-435
	61,780	79,631	-17,851
	62,510	73,709	-11,199
	99,286	112,708	-13,422
	30,381	14,972	15,409
	30,381	21,938	8,443
	75,454	67,500	7,954
	15,892	10,969	4,923
	25,408	16,975	8,433
	57,708	32,944	24,764
	36,236	21,963	14,273
	9,856	6,040	3,816
	30,385	18,559	11,826
	16,939	10,981	5,958
	9,782	9,397	385
	74,922	79,825	-4,903
	15,951	16,173	-222
	5,294	2,800	2,494
	20,038	14,935	5,103
	39,033	30,900	8,133
	43,332	32,201	11,131
	24,536	22,449	2,087
	6,034	5,575	459
	15,367	13,007	2,360
	41,857	66,768	-24,911
	81,202	128,947	-47,745
	5,023	8,039	-3,016
	34,582	35,155	-573
	96,830	91,234	5,596
	15,314	12,484	2,830
	4,982	6,861	-1,879
	5,513	8,430	-2,917
	3,346	1,772	1,574
	3,684	2,151	1,533
	16,148	11,942	4,206
	9,116	8,481	635
	5	6	-1
	17,547	19,398	-1,851
	3,824	4,360	-536
	18,607	19,769	-1,162
	7,988	7,427	561
	25,810	19,059	6,751
	9,492	8,157	1,335
	2,125	2,185	-60
	10,150	10,894	-744
	2,394	2,594	-200
	9,575	9,610	-35
	2,022	2,240	-218
	4,152	5,591	-1,439
	4,893	7,972	-3,079
	9,377	7,762	1,615
	10,125	10,506	-381
	4,625	4,688	-63
	540	528	12
	14,409	14,517	-108
	720	610	110
	3,242	2,842	400
	7,787	7,803	-16
	6,946	7,086	-140
	9,454	8,892	562
	7,865	9,622	-1,757
	10,085	10,678	-593
	1,087	408	679
	7,990	3,111	4,879
	7,437	2,839	4,598
	7,189	2,873	4,316
	9,048	9,186	-138
	16,254	16,166	88
	5,177	5,089	88
	183	180	3
	8,141	8,185	-44
	3,939	4,008	-69
	16,545	17,790	-1,245
	1,050	942	108
	263	235	28
	13,660	11,186	2,474
	285	233	52
	7,342	6,508	834
	7,824	3,028	4,796
	3,406	3,445	-39
	3,060	3,226	-166
	8,256	10,894	-2,638
	29	38	-9
	20,188	26,778	-6,590
	29,392	32,804	-3,412
	2,717	2,808	-91
	211		211
	222		222
	149		149
	246		246
	74		74
	2,282	2,123	159
	4,651	4,107	544
	5,111	4,060	1,051
	3,971	3,681	290
	10,418	8,352	2,066
	21,925	20,753	1,172
	11,869	9,874	1,995
	1,149	576	573
	3,423	4,031	-608
	2,661	3,133	-472
	2,241	2,637	-396
	2,432	2,885	-453
	2,471	2,961	-490
	6,486	6,187	299
	80	76	4
	6,168	8,065	-1,897
	110	148	-38
	4,626	6,201	-1,575
	2,199	3,164	-965
	3,141	4,435	-1,294
	2,916	1,874	1,042
	3,790	2,499	1,291
	3,074	2,578	496
	1,676	1,587	89
	140	136	4
	4,750	3,272	1,478
	2,375	2,039	336
	7,365	7,074	291
	16,148	18,230	-2,082
	3,436	3,883	-447
	4,857	5,578	-721
	21,066	18,856	2,210
	19,666	17,581	2,085
	2,231	3,071	-840
	895	1,285	-390
	848	1,222	-374
	2,183	3,149	-966
	259	364	-105
	1,001	1,425	-424
	210	293	-83
	1,301	1,825	-524
	327	458	-131
	661	940	-279
	675	960	-285
	4,330	6,370	-2,040
	2,744	3,923	-1,179
	1,853	2,465	-612
	459	544	-85
	1,606	2,059	-453
	150	188	-38
	9	9	0
	4,704	6,015	-1,311
	5,120	6,429	-1,309
	9,453	11,897	-2,444
	4,746	5,616	-870
	5,353	6,727	-1,374
	158	199	-41
	3,211	2,411	800
	1,924	2,352	-428
	23,485	25,589	-2,104
	13,649	11,271	2,378
	34,003	29,715	4,288
	13,406	12,042	1,364
	10,573	9,142	1,431
	10,277	7,373	2,904
	212	147	65
	15,408	10,715	4,693
	19,504	19,547	-43
	14,840	14,448	392
	10,568	10,293	275
	18,436	11,548	6,888
	3,517	2,200	1,317
	38	47	-9
	150	193	-43
	53	70	-17
	297	370	-73
	784	971	-187
	1,850	2,699	-849
	3	4	-1
	17,701	6,764	10,937
	5,784	4,714	1,070
	16,308	12,455	3,853
	10,736	10,448	288
	7,191	7,318	-127
	144	146	-2
	7,094	6,498	596
	330	261	69
	13,542	12,731	811
	2,222	2,203	19
	44,441	17,541	26,900
	1,989	1,151	838
	484	280	204
	2,642	1,494	1,148
	355	218	137
	1,521	902	619
	1,972	1,182	790
	1,186	653	533
	2,950	1,587	1,363
	2,872	1,649	1,223
	926	560	366
	10,320	5,260	5,060
	1,547	767	780
	884	613	271
	1,072	613	459
	4,279	2,452	1,827
	18,651	12,210	6,441
	455	298	157
	4,547	2,829	1,718
	4,805	2,531	2,274
	2,040	4,931	-2,891
	1,750	4,226	-2,476
	1,859	3,936	-2,077
	4,142	5,470	-1,328
	22,816	11,236	11,580
	1,121	2,494	-1,373
	1,471	3,263	-1,792
	811	1,710	-899
	301	624	-323
	38	72	-34
	397	741	-344
	1,874	3,511	-1,637
	1,950	4,793	-2,843
	1,235	2,172	-937
	1,031	1,962	-931
	2,083	3,821	-1,738
	613	1,170	-557
	1,623	3,626	-2,003
	3,542	3,707	-165
	2,112	1,791	321
	3,166	3,177	-11
	5,317	2,701	2,616
	6,063	3,320	2,743
	7,764	4,423	3,341
	101	56	45
	7,526	4,250	3,276
	7,773	4,136	3,637
	6,265	3,274	2,991
	440	231	209
	110	58	52
	13,392	13,557	-165
	3,728	3,199	529
	2,986	2,559	427
	2,645	2,281	364
	2,409	1,979	430
	2,343	1,919	424
	4,142	3,392	750
	1,491	1,291	200
	1,803	1,521	282
	1,435	1,231	204
	1,188	1,002	186
	3,782	2,961	821
	6,171	5,480	691
	597	353	244
	8,028	7,247	781
	4,651	3,999	652
	836	771	65
	5,352	4,570	782
	4,582	4,295	287
	9,087	8,578	509
	2,899	2,627	272
	161	139	22
	454	329	125
	165	129	36
	9,091	9,801	-710
	9,358	8,307	1,051
	1,660	1,298	362
	1,952		1,952

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			-6,677
b			-6,971
c			-33,333
d			2,897
e			8,094
			7,431
			4,637
			13,442
			15,615
			17,207
			15,011
			45,914
			8,248
			10,895
			-2,098
			-2,990
			-249
			-2,489
			-9,455
			-1,240
			6,095
			7,632
			15,650
			3,291
			-3,954
			-181
			10,809
			1,329
			3,671
			3,959
			13,979
			-23,641
			-19,447
			10,660
			-573
			-7,149
			-36,119
			-6,122
			-13,703
			-10,236
			-4,048
			-806
			-12,074
			-39,130
			-2,700
			-12,074
			-3,838
			-1,387
			-26,926
			-23,470
			-13,408
			18,764
			6,219
			5,442
			20,466
			2,046
			31,845
			2,127
			19,236
			2,946
			10,026
			15,745
			22,715
			15,300
			48,436
			16,228
			3,755
			17,336
			931
			1,996
			10,471
			5,592
			36,577
			47,400
			28,334
			16,255
			47,035
			14,551
			45,252
			26,107
			46,890
			10,506
			17,682
			51,972
			15,466
			19,049
			4,633
			2,660
			-281
			2,273
			10,662
			544
			6,266
			8,771
			11,146
			4,737
			6,404
			-5,959
			-774
			-1,257
			-12,483
			-1,283
			-9,654
			-14,978
			-9,654
			3,000
			1,648
			5,224
			12,600
			-15,084
			-1,524
			-6,393
			-2,425
			-8,309
			5,373
			12,193
			36,139
			6,256
			-739
			-17,421
			-435
			-17,851
			-11,199
			-13,422
			15,409
			8,443
			7,954
			4,923
			8,433
			24,764
			14,273
			3,816
			11,826
			5,958
			385
			-4,903
			-222
			2,494
			5,103
			8,133
			11,131
			2,087
			459
			2,360
			-24,911
			-47,745
			-3,016
			-573
			5,596
			2,830
			-1,879
			-2,917
			1,574
			1,533
			4,206
			635
			-1
			-1,851
			-536
			-1,162
			561
			6,751
			1,335
			-60
			-744
			-200
			-35
			-218
			-1,439
			-3,079
			1,615
			-381
			-63
			12
			-108
			110
			400
			-16
			-140
			562
			-1,757
			-593
			679
			4,879
			4,598
			4,316
			-138
			88
			88
			3
			-44
			-69
			-1,245
			108
			28
			2,474
			52
			834
			4,796
			-39
			-166
			-2,638
			-9
			-6,590
			-3,412
			-91
			211
			222
			149
			246
			74
			159
			544
			1,051
			290
			2,066
			1,172
			1,995
			573
			-608
			-472
			-396
			-453
			-490
			299
			4
			-1,897
			-38
			-1,575
			-965
			-1,294
			1,042
			1,291
			496
			89
			4
			1,478
			336
			291
			-2,082
			-447
			-721
			2,210
			2,085
			-840
			-390
			-374
			-966
			-105
			-424
			-83
			-524
			-131
			-279
			-285
			-2,040
			-1,179
			-612
			-85
			-453
			-38
			0
			-1,311
			-1,309
			-2,444
			-870
			-1,374
			-41
			800
			-428
			-2,104
			2,378
			4,288
			1,364
			1,431
			2,904
			65
			4,693
			-43
			392
			275
			6,888
			1,317
			-9
			-43
			-17
			-73
			-187
			-849
			-1
			10,937
			1,070
			3,853
			288
			-127
			-2
			596
			69
			811
			19
			26,900
			838
			204
			1,148
			137
			619
			790
			533
			1,363
			1,223
			366
			5,060
			780
			271
			459
			1,827
			6,441
			157
			1,718
			2,274
			-2,891
			-2,476
			-2,077
			-1,328
			11,580
			-1,373
			-1,792
			-899
			-323
			-34
			-344
			-1,637
			-2,843
			-937
			-931
			-1,738
			-557
			-2,003
			-165
			321
			-11
			2,616
			2,743
			3,341
			45
			3,276
			3,637
			2,991
			209
			52
			-165
			529
			427
			364
			430
			424
			750
			200
			282
			204
			186
			821
			691
			244
			781
			652
			65
			782
			287
			509
			272
			22
			125
			36
			-710
			1,051
			362
			1,952

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	768,174
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Form 990-PF (2021)

Page 4

Part V

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	11,298
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	11,298
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	3,468
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	19,500
d	Backup withholding erroneously withheld ...........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	22,968
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	11,670
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax11,670	Refunded	11	0

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ 0(2) On foundation managers. bullet

$ 0

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

on foundation managers. bullet

$ 0

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

DE, DC

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 . Click to see attachment

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

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

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

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

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

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

WWW.SAUL-FOUNDATION.ORG

The books are in care of bullet

CATHERINE DUNAND Telephone no. bullet

(202) 585-8188

Located at bullet

799 9TH STREET NW SUITE 500WASHINGTONDC ZIP+4 bullet

200015327

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

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

16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)? ......................

1a(5)

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.) ...............

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2021.) .....................

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

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

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

Form 990-PF (2021)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive? ....................

5a(2)

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

5a(3)

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

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

5a(4)

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)

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

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

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

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

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

Yes

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

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

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

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

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

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

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

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

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

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
CATHERINE DUNAND	PRESIDENT & TREASURER 15.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	PRESIDENT & TREASURER 15.00	0	0	0
LILIANE LAROCHE	DIRECTOR 0.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	DIRECTOR 0.00	0	0	0
FRANCOIS JACQUEMIN-VERGUET	DIRECTOR 0.00	0	0	0
SAUL FOUNDATION C/O NIXON PEABODY LLP 799 9TH STREET NW SUITE 500 WASHINGTON,DC200015327	DIRECTOR 0.00	0	0	0

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


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









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

Form 990-PF (2021)

Page 7

Part VII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NEUBERGER BERMAN BD LLC	INVESTMENT CUSTODIAN SERVICES	296,154
1290 AVENUE OF THE AMERICAS NEW YORK,NY10104	INVESTMENT CUSTODIAN SERVICES	296,154
PROMONTOIRES SAS	CONSULTING FEE	108,099
BANQUE PALATINE 12 AVENUE DE MATIGNON PARIS 75008 FR	CONSULTING FEE	108,099
MORGAN STANLEY SMITH BARNEY LLC	INVESTMENT CUSTODIAN SERVICES	50,443
1 NEW YORK PLAZA 40TH FLOOR NEW YORK,NY10004	INVESTMENT CUSTODIAN SERVICES	50,443

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

Part VIII-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2021)

Page 8

Part IX

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

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

purposes:

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

36,491,976

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

266,513

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

19,988

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

36,778,477

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

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

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

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

36,778,477

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

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

551,677

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

36,226,800

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

1,811,340

Part X

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow

and do not complete this part.)

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

1,811,340

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

11,298

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

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

11,298

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

1,800,042

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

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

1,800,042

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

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

1,800,042

Part XI

Qualifying Distributions (see instructions)

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

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

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

	(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7				1,800,042
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......			941,454
b Total for prior years:20, 20, 20		0
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 ........	0
4Qualifying distributions for 2021 from Part
XI, line 4: $ 1,161,665
a Applied to 2020, but not more than line 2a			941,454
b Applied to undistributed income of prior years (Election required—see instructions).....		0
c Treated as distributions out of corpus (Election required—see instructions)........	0
d Applied to 2021 distributable amount.....				220,211
e Remaining amount distributed out of corpus	0
5 Excess distributions carryover applied to 2021.	0			0
(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 ..........		0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......		0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........		0
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............			0
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........				1,579,831
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......	0
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...	0
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....

Form 990-PF (2021)

Page 10

Part XIII

Private Operating Foundations (see instructions and Part VI-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section 4942(j)(3) or4942(j)(5)

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

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

Part XIV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

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

aThe name, address, and telephone number or 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)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
IBIS REPRODUCTIVE HEALTH INC 2067 MASSACHUSETTS AVENUE SUITE 320 CAMBRIDGE,MA02140	NONE	PC	CHARITABLE	350,000
FIDELITY CHARITABLE PO BOX 770001 CINCINNATI,OH45277	NONE	PC	CHARITABLE	250,000
FISTULA FOUNDATION 1922 THE ALAMEDA SUITE 302 SAN JOSE,CA95126	NONE	PC	CHARITABLE	126,000
NOMI NETWORK INC PO BOX 42 NEW YORK,NY10156	NONE	PC	CHARITABLE	272,746
Total ................................. 3a				998,746

bApproved for future payment
IBIS REPRODUCTIVE HEALTH INC 2067 MASSACHUSETTS AVENUE SUITE 320 CAMBRIDGE,MA02140	NONE	PC	CHARITABLE	225,000
Total ................................. 3b				225,000

Form 990-PF (2021)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	26
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	768,174
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		0		1,172,024	11,551

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

1,183,575

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)
7	INCOME REPORTED IN COLUMN E REPRESENTS RETURN OF CAPITAL AND ACCRUED INCOME FROM THE INVESTMENTS.

Form 990-PF (2021)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Grantee's Name	Grantee's Address	Grant Date	Grant Amount	Grant Purpose	Amount Expended By Grantee	Any Diversion By Grantee?	Dates of Reports By Grantee
UNIVERSITE LAVAL	2320 RUE DES BIBLIOTHEQUES LOCAL 1462 QUBEC,QUEBECG1V 0A6 CA	2016-10-05	2,240,722	TO PREVENT UNINTENDED PREGNANCY AND FERTILITY CONTROL SPACING/PLANNING PREGNANCY.	424,995	NOT TO OUR KNOWLEDGE	05/15/2017, 06/01/2018, 09/17/2019, 10/27/2020
DEVELOPMENT MEDIA INTERNATIONAL	UNIT R RELIANCE WHARF 2-10 HERTFORD ROAD LONDON N1 5EW UK	2018-12-18	300,000	TO SUPPORT PROJECT ENFANCE, AN INNOVATIVE CAMPAIGN TO IMPROVE PARENTING BEHAVIOURS WHICH TARGETS PARENTS IN THE SOUTH-WESTERN COCOA-GROWING REGIONS OF CTE D'IVOIRE.	250,690	NOT TO OUR KNOWLEDGE	12/31/2020
CAMBRIDGE REPRODUCTIVE HEALTH CONSULTANTS INC	98 ELECTRIC AVE STE 1 SOMERVILLE,MA02144	2019-12-12	194,567	TO SUPPORT FOUR PROJECTS OF WOMEN HELP WOMEN IN EUROPE: PROJECT 1: EXPANSION OF THE ONLINE TELEHEALTH SERVICE IN EUROPE FOR COUNTRIES WITH RESTRICTED ACCESS TO ABORTION, INCLUDING POLAND, NORTHERN IRELAND, IRELAND AND MALTA; PROJECT 2: ABORTION WITHOUT BORDERS, A EUROPEAN COLLABORATION OF ORGANIZATIONS FOR SAFE ABORTION ACCESS; PROJECT 3: STIGMA BUSTING AND EVIDENCE-BASED INFORMATION DISSEMINATION BY THE ABORTION DREAM TEAM IN POLAND; PROJECT 4: OUTREACH AND PROMOTION OF SAFE SERVICES AND REFERRALS IN POLAND, MALTA, IRELAND AND NORTHERN IRELAND.	194,567	NOT TO OUR KNOWLEDGE	12/31/2020, 12/31/2021
CAMBRIDGE REPRODUCTIVE HEALTH CONSULTANTS INC	98 ELECTRIC AVE STE 1 SOMERVILLE,MA02144	2019-12-12	155,543	TO SUPPORT TWO PROJECTS OF WOMEN HELP WOMEN IN LATIN AMERICA: PROJECT 5 EXPANSION OF THE ON LINE TELEHEALTH SERVICE IN LATIN AMERICA AND PROJECT 6 SUPPORT FOR THE MOVEMENT FOR SAFE ABORTION IN LATIN AMERICA.	155,543	NOT TO OUR KNOWLEDGE	12/31/2020, 12/31/2021
GYNUITY INSTITUTE INC	220 EAST 42 STREET SUITE 710 NEW YORK,NY10017	2019-12-12	210,000	TO SUPPORT THE DEVELOPMENT OF A MISSED PERIOD PILL.	86,917	NOT TO OUR KNOWLEDGE	12/31/2020
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	250,000	TO FUND A SMARTPHONE APPLICATION TO SUPPORT MEDICAL ABORTION IN CLINICAL SETTINGS - PHASE 1.	151,217	NOT TO OUR KNOWLEDGE	12/18/2020
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	300,000	TO SUPPORT THE PROJECT, THE LATER ABORTION INITIATIVE, WHICH WAS FORMED TO PROTECT AND EXPAND ACCESS TO SAFE, AFFORDABLE, HIGH QUALITY AND STIGMA FREE ABORTION AFTER THE FIRST TRIMESTER IN THE UNITED STATES.	300,000	NOT TO OUR KNOWLEDGE	01/14/2021
IBIS REPRODUCTIVE HEALTH INC	2067 MASSACHUSETTS AVE SUITE 320 CAMBRIDGE,MA02140	2019-12-12	250,000	TO SUPPORT SELF-MANAGED ABORTION IN INDIA BY DEVELOPING AND PILOT TESTING A SAFE-ABORTION HOTLINE.	79,087	NOT TO OUR KNOWLEDGE	02/04/2021
THE IVORY FOUNDATION	48 RUE SAINT SBASTIEN PARIS 75011 FR	2018-04-13	500,000	TO SUPPORT THE PROJECT FOR EXPERIMENTING INOVATIVE SOLAR ENERGY PRODUCING UNITS FOR MEDICAL AND AGRICULTURAL FIELD IN EASTERN SENEGAL.	358,333	NOT TO OUR KNOWLEDGE	06/2019, 08/20/2021

Name of Stock	End of Year Book Value	End of Year Fair Market Value
39719.26 SHS DREYFUS TREASURY SEC CASH MGMT ADMIN	39,719	39,719
204465.97 SHS MSILF TREASURY SECURITIES INST	204,163	204,163
49 SHS ACCENTURE PLC IRELAND CL A	20,313	20,313
261 SHS ADIDAS AG	37,584	37,584
88 SHS ADOBE INC	49,901	49,901
950 SHS ADYEN N V UNSPONSRED ADR	25,004	25,004
799 SHS AIA GROUP LTD SPON ADR	32,219	32,219
3279 SHS AIR PRODUCTS AND CHEMICALS INC	997,669	997,669
1236 SHS AIRBUS SE UNSPONSORED ADR	39,441	39,441
705 SHS ALCON INC	61,420	61,420
937 SHS ALPHABET INC CAP STK CL C	2,711,294	2,711,294
75 SHS ALPHABET INC CL A	217,278	217,278
597 SHS AMADEUS IT GROUP S.A ADR	40,429	40,429
570 SHS AMAZON	1,900,574	1,900,574
233 SHS AMERICAN TOWER REIT COM	68,153	68,153
8593 SHS ANALOG DEVICES INC	1,510,392	1,510,392
1858 SHS ANTHEM INC	861,257	861,257
4117 SHS AON PLC SHS CL A	1,237,406	1,237,406
690 APOLLO GLOBAL MGMT INC COM CL A	49,977	49,977
12867 SHS APPLE INC	2,284,793	2,284,793
109 SHS ASML HOLDING NV NY REG NEW	86,779	86,779
9713 SHS ATHENE HOLDING LTD COM CL A	809,384	809,384
759 SHS ATLAS COPCO AS A ADR A NEW	52,606	52,606
120 SHS ATLASSIAN CORP PLC CL A	45,755	45,755
367 SHS AUTOMATIC DATA PROCESSING INC	90,495	90,495
302 SHS BALL CORPORATION	29,074	29,074
829 SHS BANK OF AMERICA CORP	36,882	36,882
89 SHS BECTON DICKINSON & CO	22,382	22,382
403 SHS BERKSHIRE HATHAWAY CL-B NEW	456,872	456,872
484 SHS BK OF AMERICA CORP DP SH NCUM NN	12,381	12,381
43 SHS BLACKROCK INC	39,369	39,369
11516 SHS BLACKSTONE GROUP INC COM CL A	1,490,055	1,490,055
640 SHS BLACKSTONE MORTGAGE TRUST INC	19,597	19,597
1479 SHS BNP PARIBAS SP ADR REPSTG	51,454	51,454
254 SHS BOOKING HOLDINGS INC COM	609,404	609,404
1259 SHS BURBERRY GROUP PLC SPONS ADR	30,921	30,921
771 SHS CDN PACIFIC RY LTD NEW	55,466	55,466
744 SHS CELLNEX TELECOM SA UNS ADR	21,494	21,494
2445 SHS CIGNA CORP NEW	561,445	561,445
524 SHS CISCO SYS INC	33,206	33,206
133 SHS CME GROUP INC	30,385	30,385
1520 SHS COMCAST CORP NEW CLASS A	76,502	76,502
1746 SHS COMPASS GROUP PLC SPD ADR	40,280	40,280
771 SHS CRH PLC ADR	40,709	40,709
9640 SHS CSX CORP COM	362,464	362,464
20 SHS DANAHER CORPORATION CONV PFD B 5%	34,763	34,763
97 SHS DIGITAL REALTY TRUST INC	17,156	17,156
6027 SHS DISNEY WALT CO	999,350	999,350
9343 SHS DR HORTON INC COM STK	1,013,248	1,013,248
213 SHS DUKE ENERGY CORP NEW COM NEW ISIN	22,344	22,344
293 SHS ECOLAB INC	68,735	68,735
911 SHS EDP ENERGIAS DE PORTGUAL SA	49,895	49,895
257 SHS ELASTIC N V	31,634	31,634
2140 SHS ELI LILLY AND CO	591,111	591,111
787 SHS EMERSON ELECTRIC CO	73,167	73,167
197 SHS ESSILORLUXOTTICA ADR	21,061	21,061
1548 SHS FANUC CORPORATION UNSP ADR	32,957	32,957
335 SHS FIDELITY NATL INFORMATION SE	36,565	36,565
797 SHS FIRST REP BK SAN FRANCISCO NCUM PFD I PERPTL MTY 5.5%	21,495	21,495
14163 SHS GENERAL MTRS CO COM	830,377	830,377
366 SHS GIVAUDAN SA ADR	38,397	38,397
2185 SHS HOME DEPOT INC	906,797	906,797
1440 SHS HONEYWELL INTERNATIONAL INC	300,254	300,254
351 SHS HOYA CORP SPONS ADR	52,499	52,499
195 SHS ICON PLC	60,392	60,392
2155 SHS INDUSTRIA DE DISENO TEXTIL IND	34,887	34,887
223 SHS INTEL CORP COM USD0.001	11,485	11,485
81 SHS INTL BUSINESS MACHINES CORP	10,826	10,826
1662 SHS INTESA SANPAOLO S.P.A. ADR	25,970	25,970
687 SHS JOHNSON & JOHNSON	117,525	117,525
9046 SHS JPMORGAN CHASE & CO	1,432,434	1,432,434
622 SHS KBC GROUP NV UNSPONS ADR	26,808	26,808
1116 SHS KINDER MORGAN INCORP	17,700	17,700
16 SHS KYNDRYL HLDGS INC COMMON STOCK	290	290
620 SHS L OREAL CO ADR	59,160	59,160
76 SHS L3HARRIS TECHNOLOGIES INC	16,206	16,206
1934 SHS LEGRAND SA	45,178	45,178
8363 SHS LENNAR CORP COM CLASS A	971,446	971,446
206 SHS LINDE PLC	71,228	71,228
2212 SHS LONDON STK EXCHANGE GROUP ADR	52,181	52,181
298 SHS MEDTRONIC PLC SHS	30,828	30,828
782 SHS MERCK & CO INC NEW COM	59,932	59,932
8304 SHS MICROSOFT CORP	2,792,801	2,792,801
163 SHS MONDELEZ INTL INC	10,809	10,809
758 SHS MONOTARO CO LTD ADR	13,655	13,655
4583 SHS MOTOROLA SOLUTIONS INC	1,245,201	1,245,201
715 SHS NESTLE ADR	100,365	100,365
782 SHS NEXTERA ENERGY CAP SEC HLDGS INC FXD NT79 5.65000% PFD	21,716	21,716
12177 SHS NEXTERA ENERGY INC	1,136,845	1,136,845
78 SHS NICE LTD ADR (NICE)	23,681	23,681
937 SHS NIDEC CORP	27,651	27,651
54 SHS NORFOLK SOUTHN CORP	16,076	16,076
600 SHS NOVO NORDISK A/S ADR	67,200	67,200
350 SHS OCADO GROUP PLC SPONSORED ADR	15,894	15,894
6723 SHS ORACLE CORP	586,313	586,313
225 SHS PAYPAL HLDGS INC COM	42,431	42,431
1124 SHS PFIZER INC	66,372	66,372
308 SHS PIONEER NATURAL RESOURCES CO	56,019	56,019
561 SHS PPG INDUSTRIES INC	96,739	96,739
515 SHS PROCTER & GAMBLE	84,244	84,244
1755 SHS PROLOGIS INC	295,472	295,472
8320 SHS RAYTHEON TECHNOLOGIES CORP	716,019	716,019
4206 SHS RECRUIT HOLDINGS CO. LTD. ADR	51,229	51,229
1077 SHS RENTOKIL GROUP PLC SP ADR	43,220	43,220
1223 SHS ROCHE HOLDINGS ADR	63,217	63,217
2045 SHS SALESFORCE.COM INC COM	519,696	519,696
995 SHS SANDVIK AB SPONS ADR	27,810	27,810
75 SHS SEA LIMITED ADR	16,778	16,778
1013 SHS SERVICENOW INC COM	657,548	657,548
482 SHS SHISEIDO LTD SPON ADR	26,928	26,928
1273 SHS STARWOOD PPTY TR INC	30,934	30,934
457 SHS TAIWAN SMCNDCTR MFG CO LTD ADR	54,982	54,982
220 SHS TARGET CORPORATION	50,917	50,917
398 SHS TE CONNECTIVITY LTD NEW	64,213	64,213
211 SHS TELEPERFORMANCE SA UNSP ADR	46,988	46,988
154 SHS TEMENOS AG SPONSORED ADR	21,155	21,155
1296 SHS THERMO FISHER SCIENTIFIC INC	864,743	864,743
357 SHS THOMSON REUTERS CORP	42,704	42,704
1526 SHS TJX COS INC NEW	115,854	115,854
10273 SHS T- MOBILE US INC COM	1,191,463	1,191,463
105 SHS TOKYO ELECTRON LTD UNSPON ADR	15,110	15,110
285 SHS TOLL BROTHERS	20,631	20,631
656 SHS TRAVELERS COMPANIES INC	102,618	102,618
10846 SHS UBER TECHNOLOGIES INC COM	454,773	454,773
106 SHS UNILEVER PLC SPON	5,702	5,702
4418 SHS UNION PAC CORP	1,113,027	1,113,027
468 SHS UNITED PARCEL SER INC CL-B	100,311	100,311
172 SHS UNITEDHEALTH GROUP INC	86,368	86,368
820 SHS US BANCORP COM NEW	46,059	46,059
483 SHS VERIZON COMMUNICATIONS INC	25,097	25,097
416 SHS VISA INC CL A	631,926	631,926
676 SHS WASTE MGMT INC	112,824	112,824
597 SHS WELLS FARGO & CO REPSTG 1/1000TH INT PFD SER X CL A 5.5% PERPTL MTY	15,438	15,438
610 SHS WORLDLINE SA ADR	17,080	17,080

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
ACCRUED DIVIDEND	10,123	11,114	11,114
PENDING TRADE RECEIVABLE	2,313	0	0

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
BANK FEES	1,183	118	1,064
REGISTRATION AND FILING FEES	440	0	440
OFFICE EXPENSES	33,223	0	0
LIABILITY INSURANCE	6,137	614	5,523

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
NONDIVIDEND DISTRIBUTIONS	11,654	0	11,654
FOREIGN EXCHANGE LOSS	-103	-103	-103

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT ADVISORY FEES	347,723	347,723		0
CONSULTING FEES	100,899	0		100,899