TY 2021 Form 990PF

- TIN:

Form990-PF
Click to see attachment

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
The Picard Family Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

81-4548446

B Telephone number (see instructions)

(800) 839-1754

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

$4,879,334J 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)	0
2	Check .............
3	Interest on savings and temporary cash investments	36		36
4	Dividends and interest from securities...	81,197		81,197
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		504,260
b	Gross sales price for all assets on line 6a 1,772,502
7	Capital gain net income (from Part IV, line 2)...			504,260
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	Total. Add lines 1 through 11........	585,493		585,493
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		75,271	75,271
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		8,526	2,406
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		21,131	835	20,296
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	104,928		78,512	20,296
25	Contributions, gifts, grants paid.......	210,000			210,000
26	Total expenses and disbursements. Add lines 24 and 25	314,928		78,512	230,296
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	270,565
b	Net investment income (if negative, enter -0-)			506,981
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.........	91,872	443,660	443,660
	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)	120,194	139,187	150,737
	b	Investments—corporate stock (attach schedule).......	2,668,492	2,799,308	3,923,202
	c	Investments—corporate bonds (attach schedule).......	353,452	349,472	361,735
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	227,052
	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)	3,461,062	3,731,627	4,879,334
	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........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	3,461,062	3,731,627
	29	Total net assets or fund balances (see instructions).....	3,461,062	3,731,627
	30	Total liabilities and net assets/fund balances (see instructions).	3,461,062	3,731,627

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) ...............

3,461,062

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

270,565

Other increases not included in line 2 (itemize) bullet

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

3,731,627

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 .

3,731,627

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	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b	A&Q MULTI-STRATEGY FUND	P	2021-12-31
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,546,408	1,041,190	505,218
b	226,094	227,052	-958
c
d
e

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			505,218
b			-958
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	504,260
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
3	Add lines 1 and 2...........................	3	7,047
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	7,047
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	5,008
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	2,200
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	7,208
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	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	153
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax153	Refunded	11

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

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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)

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 .

Yes

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

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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)

(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? .................

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

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
Alexandra Picard	Dir, Pres, Treas 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Pres, Treas 1.0	0	0	0
Caroline Picard	Dir, Sec 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Sec 1.0	0	0	0
Peter Picard	Dir, VP 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, VP 1.0	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










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

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
UBS Financial Services	Investment MGMT	75,271
1285 AVE OF THE AMERICAS 15-18TH F NEW YORK,NY100196301	Investment MGMT	75,271

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...................

4,288,855

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

271,485

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

226,094

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

4,786,434

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.........................

4,786,434

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

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

71,797

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

4,714,637

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

235,732

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..................

235,732

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

7,047

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

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

7,047

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

228,685

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

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

228,685

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

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

228,685

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	(d) 2021
1 Distributable amount for 2021 from Part X, line 7			228,685
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......
b Total for prior years:2019, 2018, 2017
3 Excess distributions carryover, if any, to 2021:
a From 2016......
b From 2017......
c From 2018......	41,590
d From 2019......	173,811
e From 2020......	175,584
f Total of lines 3a through e ........		390,985
4Qualifying distributions for 2021 from Part
XI, line 4: $ 230,296
a Applied to 2020, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2021 distributable amount.....			228,685
e Remaining amount distributed out of corpus		1,611
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		392,596
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		392,596
10 Analysis of line 9:
a Excess from 2017....
b Excess from 2018....	41,590
c Excess from 2019....	173,811
d Excess from 2020....	175,584
e Excess from 2021....	1,611

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).)

Alexandra Picard

Caroline Picard

Peter Picard

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
AMERICAN INSTITUTE OF MUSICAL STUDIES 28 E 69TH ST KANSAS CITY,MO64113	N/A	PC	General & Unrestricted	10,000
BEARGRASS WRITERS WORKSHOP PO BOX 7741 MISSOULA,MT59807	N/A	PC	General & Unrestricted	40,000
BOYS AND GIRLS CLUBS OF KING COUNTY 603 STEWART ST SUITE 300 SEATTLE,WA98101	N/A	PC	General & Unrestricted	5,000
GROTON SCHOOL 282 FARMERS ROW GROTON,MA01450	N/A	PC	General & Unrestricted	2,500
GROTON SCHOOL 282 FARMERS ROW GROTON,MA01450	N/A	PC	Financial Aid/GRAIN 2.0 FUND	5,000
NISHIMACHI FOUNDATION THE CORPTRUSTCOMPANY 1209 ORANGE ST WILMINGTON,DE19801	N/A	PC	General & Unrestricted	50,000
NORTHWEST SYMPHONY ORCHESTRA PO BOX 16231 SEATTLE,WA98116	N/A	PC	General & Unrestricted	9,500
ODEA HIGH SCHOOL 802 TERRY AVE SEATTLE,WA98104	N/A	PC	General & Unrestricted	10,500
PIVOT FOR HUMANITY INC 189 ROWAYTON AVE NORWALK,CT06853	N/A	PC	General & Unrestricted	37,500
ROCKHOUSE FOUNDATION 2 CORNELIA ST STE 12C NEW YORK,NY10014	N/A	PC	General & Unrestricted	27,500
THE HEALING CENTER PO BOX 22004 SEATTLE,WA98122	N/A	PC	General & Unrestricted	5,000
THE MULTIPLE MYELOMA RESEARCH FOUNDATION INC 383 MAIN AVE 5TH FL NORWALK,CT06851	N/A	PC	General & Unrestricted	7,500
Total ................................. 3a				210,000

bApproved for future payment

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

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	36
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	504,260
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) ..				585,493

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

585,493

(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.)

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

- TIN:

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

TY 2021 DepreciationSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included

- TIN:

TY 2021 InvestmentsCorpBondsSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC - 3.600% - 05/14/20	6,710	7,423
AMAZON COM INC - 3.875% - 08/2	8,072	8,238
AMERICAN EXPRESS CO - 1.650% -	8,039	8,020
AMERICAN INTERNATIONAL GROUP,	7,815	7,577
ANHEUSER BUSCH INBEVFIN INC -	6,374	7,154
ANTHEM INC NOTE - 4.101% - 03/	7,044	7,767
APPLE INC - 2.500% - 02/09/202	6,594	7,287
AT&T INC - 4.350% - 03/01/2029	8,344	7,869
BANK NEW YORK - 3.650% - 02/04	6,064	6,316
BANK OF NOVA SCOTIA - 3.400% -	7,516	7,346
BK OF AMERICA CORP - 2.087% -	7,875	7,944
BLACKROCK INC - 2.400% - 04/30	8,236	8,216
BNP PARIBAS - 3.250% - 03/03/2	6,796	7,208
BP CAPITAL MKTS - 3.814% - 02/	6,381	6,327
CAPITAL ONE FINANCIAL CO NOTE	6,999	7,369
CITIGROUP INC NOTE - 4.600% -	5,999	6,620
COMCAST - 4.250% - 10/15/2030	8,133	8,087
CSX CORP - 0.000% - 11/01/2026	7,872	8,343
CVS CAREMARK CORP NOTE - 4.300	3,443	3,369
DEERE CO - 2.650% - 01/06/2022	5,973	6,001
DUKE ENERGY CORP - 3.750% - 04	7,971	8,401
ENERGY TRANSFER PARTNERS DTD -	5,849	6,358
ENTERGY CORP - 0.900% - 09/15/	8,029	7,752
EXPRESS SCRIPTS NOTE - 4.500%	6,347	6,611
EXXON MOBIL CORP - 2.992% - 03	6,336	6,308
GENERAL MTRS FINL COINC NOTE -	7,667	8,817
GOLDMAN SACHS GROUP INC NOTE -	7,331	7,473
INTEL CORP - 2.450% - 11/15/20	8,176	8,284
INTERNATIONAL BUSINESS MACHINE	6,393	8,075
JOHNSON &JOHNSON - 1.300% - 09	8,058	7,709
JP MORGAN CHASE NOTE - 0.000%	8,088	8,318
KEYCORP - 2.550% - 10/01/2029	8,563	8,191
KINDER MORGAN EP - 4.150% - 02	6,042	6,313
MORGAN STANLEY - 3.875% - 04/2	7,132	7,422
NISOURCE - 0.950% - 08/15/2025	8,044	7,791
NVIDIA CORP - 2.850% - 04/01/2	7,703	7,435
ORACLE CORP - 2.950% - 05/15/2	5,743	6,221
ORIX CORPORATION - 2.900% - 07	8,068	8,092
SANTANDER HLDGS USA INC - 3.50	8,222	8,340
SHELL INTL FIN NT - 6.375% - 1	6,599	7,298
SIMON PPTY GROUP - 3.500% - 09	7,606	7,463
STARBUCKS CORP 2.25% 03/12/203	8,326	7,952
SUNTRUST BK - 2.800% - 05/17/2	7,111	7,051
TORONTO DOMINION BANK MTN - 1.	7,875	7,864
UNITEDHEALTH GROUP INC - 5.800	5,616	6,948
VERIZON COMMUNICATIONS INC - 0	7,942	8,154
VODAFONE GROUP PLC - 6.150% -	5,971	8,150
WELLS FARGO - 3.000% - 02/19/2	6,028	6,266
WESTPAC BKG CORP NOTE - 2.350%	6,357	6,197

- TIN:

TY 2021 InvestmentsCorpStockSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ADIDAS AG	7,795	10,800
ADVANCED ENERGY IND INC	6,228	6,374
AGREE REALTY CORP	4,524	4,995
AIA GROUP LTD ADR	5,604	10,241
AIRBUS GROUP	14,791	18,412
ALAMO GP INC	5,876	7,212
ALEXANDRIA REAL ESTATE EQUITIE	5,284	6,689
ALIBABA GROUP HOLDING LTD	38,506	30,529
ALPHABET INC CL A	68,564	107,190
ALPHABET INC CL C	14,846	37,617
AMAZON COM	22,396	73,355
AMER INTERNATIONAL GROUP INC	19,651	20,583
ANTERO RESOURCES CORPORATION	2,916	3,010
ARAMARK	6,823	11,755
ARTISAN PARTNERS ASSET MANAGEM	2,882	3,049
ASGN INC	8,096	13,821
ASML HOLDING NV NY REG SHS	2,780	16,719
ASTRAZENECA	21,758	26,213
AUTODESK, INC	4,840	42,460
AUTOMATIC DATA PROCESSING INC	4,956	8,630
AVALONBAY CMNTYS INC	4,723	6,567
AVATAR HOLDINGS INC.	4,540	5,605
BALLY S ORD SHS	8,174	6,889
BANK OF AMERICA CORP	16,373	31,899
BEACON ROOFING SUPPLY, INC	5,188	5,620
BERKSHIRE HATHAWAY INC. CLASS	27,450	40,664
BLACKROCK INC	4,341	10,071
BOEING CO	35,613	43,686
BOOKING HOLDINGS INC	19,990	26,392
BRIXMOR PPTY GROUP INC COM	4,389	7,343
BROWN & BROWN INC	7,012	9,207
BUILDERS FIRST SOURCE INC	2,214	4,028
BUNGE LTD	7,226	14,938
CACI INTL INC	10,292	11,038
CADENCE BANCORPORATION	8,522	8,311
CAMECO CORPORATION	7,205	12,214
CANADIAN PACIFIC RAILWAY LTD	5,450	12,949
CAPRI HOLDINGS LTD.SHS	7,248	12,593
CARLISLE COS INC	6,587	15,880
CDK GLOBAL INC	27,881	25,253
CHARLES SCHWAB CORP	16,226	32,042
CHARTER COMMUNICATIONS, INC	14,819	24,775
CISCO SYSTEMS INC	6,339	21,546
CITIGROUP INC	12,793	15,943
CMC MATERIALS INC	5,238	7,859
COLGATE-PALMOLIVE COMPANY	11,617	13,910
COMCAST CORP	12,359	18,421
COMSTOCK RES INC	1,925	2,532
CONSTELLATION BRANDS INC	9,385	14,054
COTY INC	6,956	8,946
CREDIT SUISSE GROUP ADR	26,821	18,268
CYBERARK SOFTWARE LTD	5,943	11,263
DBS GROUP HLDGS SPON ADR	13,547	16,162
DEERE CO	8,305	25,374
DEUTSCHE TELE AG ADS	9,087	8,811
DIAGEO PLC ADS	8,126	15,630
DIGITAL RLTY TR INC	2,869	3,537
DOLLAR TREE INC	16,578	22,905
DXC TECHNOLOGY COMPANY	6,761	9,496
EASTGROUP PROPERTIES INC	5,797	9,798
ELEMENT SOLUTIONS INC	9,274	18,137
EMERGENT BIOSOLUTIONS INC	5,361	2,956
EQUIFAX INC	4,847	9,662
EQUINIX, INC	11,711	15,225
EQUITY LIFESTYLE PRP	2,117	4,032
ERICSSON L M TEL CO	13,412	16,718
ESSEX PRTY TR INC	6,527	9,510
ESSILOR INTL ADR	7,776	12,295
EVERI HOLDINGS INC	5,015	5,594
EXLSERVICE HOLDINGS INC	10,828	15,925
EXPEDITORS INTL WASH INC	8,000	23,501
EXTRA SPACE STORAGE	5,682	12,470
F M C CP	10,206	10,659
FABRINET INC	3,726	5,568
FACTSET RESH SYST INC	4,206	19,926
FEDERAL RLTY INVT TR	2,811	2,863
FEDERAL SIGNAL CORP	7,651	10,662
FERRARI NV	10,085	13,200
FIRST AMERICAN CORP	6,788	9,153
FISERV INC	37,858	37,053
FTI CONSULTING INC	7,845	9,819
GATX CORP INC	8,144	10,732
GEN DYNAMICS CP	15,086	22,723
GENERAL MOTORS	13,300	23,804
GENMAB A/S SPON	6,587	9,415
GIBRALTAR INDS INC	7,207	5,068
GLOBAL MEDICAL REIT INC	2,852	3,319
GLOBAL PAYMENTS INC	8,760	10,003
GRIFOLS SA REP 1/2 CL B	15,332	9,871
HALLIBURTON COMPANY	9,191	7,684
HCA INC	12,025	30,317
HDFC BANK LTD ADR	12,180	18,935
HEALTHCARE TRUST OF AMERICA IN	1,978	2,404
HILTON WORLDWIDE HOLDINGS, INC	9,862	20,279
HOLOGIC, INC	6,572	7,197
HOST HOTELS & RESORTS INC	4,646	4,695
HUMANA INC	22,785	32,006
HUNTINGTON INGALLS INDUSTRIES	12,820	12,885
ICHOR HOLDINGS	5,391	5,109
II VI INC	8,933	9,088
ILLUMINA INC COM	16,607	22,066
INDEPENDENCE REALTY TR	2,674	4,701
INFOSYS TECH LTD SPD ADR	10,174	14,629
INSIGHT ENTERPRISES, INC	10,535	18,762
INSTALLED BUILDING PRODUCTS IN	6,838	8,104
INTERNATIONAL GAME TECHNOLOGY	6,192	10,061
INTUITIVE SURGICAL	7,257	15,091
INVITATION HOMES INC.	4,423	5,350
ITAU UNIBANCO HOLDING S.A	9,646	7,931
KERRY GROUP PLC	10,944	12,225
KEURIG DR PEPPER INC	28,310	34,796
KILROY REALTY CP	3,432	3,722
KION GROUP AG GERMANY	7,773	13,803
KKR & CO INC	8,471	16,316
L'AIR LIQUIDE ADR OTC	8,216	11,437
LANDSTAR SYSTEM	6,746	7,698
LEAR CORP	17,183	18,844
LIFE STORAGE, INC	6,709	11,182
LONDON STK EXCHANGE GROUP	7,748	10,663
LOOMIS SAYLES HIGH INCOME OPPO	126,271	120,921
LOOMIS SAYLES SECURITIZED ASSE	311,247	273,986
LPL FINANCIAL HOLDINGS INC	7,552	13,127
LVMH MOET HENN UNSP	4,209	12,744
MACERICH CO	4,597	5,996
MACQUARIE GROUP LTD ADR	6,896	13,510
MANULIFE FIN CORP	12,267	14,989
MASTERCARD INC	15,650	16,888
META PLATFORMS INC	28,655	92,160
MICROSOFT CORP	7,827	54,148
MKS INSTRUMENTS, INC	7,839	10,624
MOELIS AND COMPANY	4,268	5,001
MOLINA HEALTHCARE	12,232	14,950
MONSTER BEVERAGE CORP	7,910	32,173
MOODYS CORP	3,110	11,327
MURATA MFG INC UNSP/ADR	16,191	15,182
NESTLE S.A	7,262	11,791
NETFLIX INC	12,038	26,507
NIDEC CORPORATION ADR	4,896	12,099
NOMAD FOODS LIMITED	9,174	7,998
NOV INC	12,947	5,528
NOVARTIS AG ADR	26,249	26,328
NOVO NORDISK A S	4,406	12,432
NVIDIA CORP	9,154	72,351
NXP SEMICONDUCTORS	9,088	19,134
OLD NATIONAL BANCORP	7,974	7,719
ORACLE CORP	23,684	45,262
OVINTIV INC	3,996	6,369
PACWEST BANCORP	7,701	8,582
PAGSEGURO DIGITAL LTD.	11,788	8,810
PARAMOUNT GROUP INC COM	454	359
PDC ENERGY INC	3,343	3,610
PERFORMANCE FOOD GROUP COMPANY	10,684	12,757
PHILIP MORRIS INTL	5,926	6,270
PING AN INSURANCE GROUP ADR	15,553	17,853
POST HOLDINGS INC	16,636	20,630
PROLOGIS	10,811	22,560
PRUDENTIAL PLC SC	22,367	19,728
QUALCOMM INC	7,884	26,150
REGENERON PHARMACEUTICALS INC	35,183	52,416
REINSURANCE GROUP AMER INC	13,920	16,642
RETAIL OPPORTUNITY INVESTMENTS	1,136	1,196
RITCHIE BROS AUCTIONEERS	7,891	7,651
ROCHE HOLDING LTD ADR	32,246	39,646
ROYAL DUTCH SHEL PLC SPONS ADR	17,968	18,987
RUSH ENTERPRISES, INC	3,458	5,564
RYANAIR HOLDINGS PLC-ADR COM	12,338	11,870
RYMAN HOSPITALITY PROPERTIES	3,853	4,230
SAIA, INC	2,644	6,404
SALESFORCE.COM	36,013	54,892
SAP AKTIENGESELL ADS	7,556	10,088
SBA COMMUNICATIONS CORP	2,197	3,112
SCHLUMBERGER LTD	23,477	13,118
SEALED AIR CORP	8,722	13,561
SEI INVESTMENTS	4,487	14,077
SELECTIVE INS GROUP INC	8,011	8,440
SEVEN & I HOLDINGS C	13,963	16,009
SHISEIDO CO LTD	9,303	8,883
SIEMENS AG	14,087	20,524
SIKA AG BEARER SHS	9,725	12,011
SIMON PPTY GROUP INC	2,981	3,036
SINCLARI BROADCAST GROUP INC	6,981	7,215
SONY GROUP CORP	12,268	23,510
SOUTH STATE CORPORATION	5,240	5,608
SOUTHERN COPPER CORP	6,938	12,280
SOUTHWEST GAS CP	7,075	7,285
SOUTHWESTERN ENERGY CO	2,912	3,113
SPIRE INC	7,940	7,109
SPIRIT REALTY CAPITAL, INC	4,770	5,301
SPX CORPORATION	5,027	6,266
STARBUCKS CORP COM	13,508	24,330
SUN COMMUNITIES INC	4,801	6,719
SYMRISE AG UNSPONSORED	6,847	10,602
SYNEOS HEALTH INC	12,022	15,299
T-MOBILE US INC	14,911	16,237
TAIWAN SEMICONDUCTOR MFG CO LT	5,061	16,122
TECHNIPFMC PLC	5,727	3,114
TEGNA	5,472	8,018
TELE NORTE CELULAR PARTICIPACO	5,223	5,883
TENCENT HOLDINGS LIMITED	17,324	21,629
TERRENO RLTY CORPCOM	6,078	8,188
THE CHEMOURS CO	8,881	11,175
THOR INDS INC	18,776	28,122
TORAY INDUSTRIES INC	19,362	16,633
TOYOTA MTR CORP	12,888	16,862
TREAN INS GROUP INC	4,304	2,682
TREASURY WINE ESTATES ADR	17,376	20,074
UDR INC	6,292	8,159
ULTRA CLEAN HOLDINGS, INC	4,279	4,933
UNIFIRST CP	3,354	4,208
UNITED BANKSHARES, INC	5,353	5,369
UNITED COMMUNITY BANKS, INC	5,394	5,930
UNIVAR INC	6,733	10,433
VENTAS INC	7,299	7,208
VERTEX PHARMCTLS INC	23,176	25,693
VICI PROPERTIES INC	7,503	9,846
VISA INC	24,328	68,914
WAL-MART DE MEX V SP/ADR	6,060	8,977
WALT DISNEY HOLDINGS CO	36,942	45,693
WARNER MUSIC GRP CRP	5,354	6,132
WATSCO INC	5,112	5,632
WELLS FARGO & CO	18,766	29,172
WELLTOWER INC.	1,987	3,259
WILLIS TOWERS WATSON PUBLIC LT	20,688	21,374
WNS (HOLDINGS) LIMIT	7,354	7,852
WORKDAY INC	7,207	14,205
WORLDLINE	9,316	9,464
XP INC CL A	11,655	9,455
YUM BRANDS INC	5,288	14,164
YUM CHINA HOLDINGS INC	3,981	6,928

- TIN:

TY 2021 InvestmentsGovtObligationsSch

Name:

The Picard Family Foundation

EIN:

81-4548446

US Government Securities - End of Year Book Value:

131,148

US Government Securities - End of Year Fair Market Value:

142,276

State & Local Government Securities - End of Year Book Value:

8,039

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

8,461

- TIN:

TY 2021 OtherExpensesSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	20,271		20,271
Bank Charges	835	835
State or Local Filing Fees	25		25

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	75,271	75,271

- TIN:

TY 2021 ReasonableCauseExplanation

Name:

The Picard Family Foundation

EIN:

81-4548446

Explanation:

The Foundation's tax preparer is located in Nassau County, NY, which, per IRS release NY-2021-01 announced on September 9, 2021, is included in the list of localities that constitute a covered disaster area for purposes of Treas. Reg. Sec. 301.7508A-1(d)(2) and are entitled to tax relief due to Hurricane Ida. Additional time was needed to calculate and transmit the tax payment. Therefore, Form 2220 indicates that the Q3 or Q4 estimated tax payment made on or before the extended deadline of February 15, 2022 was, in fact, made timely on the original due date of such payment. We respectfully request that no late payment penalties be assessed in connection with such payment(s) per Treas. Reg. Sec. 301.7508A-1(c)(1).

- TIN:

TY 2021 TaxesSchedule

Name:

The Picard Family Foundation

EIN:

81-4548446

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2021	4,900
990-PF Extension for 2020	1,220
Foreign Tax Paid	2,406	2,406