Form990-PF
Click to see attachment
Click to see attachmentClick to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
Carroll Petrie Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)401 East Palace Avenue
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Santa Fe, NM875012223
A Employer identification number

13-3912203
B Telephone number (see instructions)

(212) 530-5880
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$406,241,002J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 11,647,699
2 Check bullet.............
3 Interest on savings and temporary cash investments 753 753  
4 Dividends and interest from securities... 725,157 725,157  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 36,079,083
b Gross sales price for all assets on line 6a 79,972,896
7 Capital gain net income (from Part IV, line 2)... 35,622,684
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment 6,723,772 6,621,576  
12 Total. Add lines 1 through 11........ 55,176,464 42,970,170  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 257,026 25,703   231,323
14 Other employee salaries and wages...... 454,894 29,373   425,521
15 Pension plans, employee benefits....... 142,968 11,060   131,908
16a Legal fees (attach schedule)......... Click to see attachment 259,106 37,732   221,374
b Accounting fees (attach schedule)....... Click to see attachment 98,092 21,702   74,890
c Other professional fees (attach schedule).... Click to see attachment 497,608 300,292   197,316
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 160,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 16,358 818   15,540
21 Travel, conferences, and meetings....... 5,519 0   5,519
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 2,348,979 2,150,703   75,775
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 4,240,550 2,577,383   1,379,166
25 Contributions, gifts, grants paid....... 12,617,000 12,617,000
26 Total expenses and disbursements. Add lines 24 and 25 16,857,550 2,577,383   13,996,166
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 38,318,914
b Net investment income (if negative, enter -0-) 40,392,787
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 3,607,641 5,306,484 5,306,484
3 Accounts receivable bullet561,319
Less: allowance for doubtful accounts bullet     561,319 561,319
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet   230,927 0 0
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)....... 45,622,371 Click to see attachment34,490,827 62,091,539
c Investments—corporate bonds (attach schedule)....... 17,608,076 Click to see attachment16,100,006 16,239,069
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 200,916,241 Click to see attachment250,173,308 322,042,591
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 267,985,256 306,631,944 406,241,002
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,764,061 Click to see attachment1,726,840
23 Total liabilities (add lines 17 through 22)......... 1,764,061 1,726,840
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 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 266,221,195 304,905,104
29 Total net assets or fund balances (see instructions)..... 266,221,195 304,905,104
30 Total liabilities and net assets/fund balances (see instructions). 267,985,256 306,631,944
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
266,221,195
2
Enter amount from Part I, line 27a .....................
2
38,318,914
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
410,614
4
Add lines 1, 2, and 3 ..........................
4
304,950,723
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
45,619
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
304,905,104
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly traded securities      
b Capital gain distributions      
c Passthrough K-1 Capital gain      
d 731 gain Canyon Distressed Opportunity Fund II (Cayman), LP      
e 731 gain Redwood Drawdown Offshore Fund II, LP      
Settlement of John Christensen Estate Claim      
Sale of Green Court Greater China Long/Short Equity Fund Ltd. P 2020-01-01 2021-05-31
Sale of Portfolio America Asset Pool I, LLC P 2020-08-28 2021-12-31
Sale of Renaissance Institutional Diversified Alpha Fund LLC P 2020-01-01 2021-01-31
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 46,394,700   33,988,920 12,405,780
b 3,353,752     3,353,752
c 19,789,917     19,789,917
d 266,550     266,550
e 400,000     400,000
33,360     33,360
4,899,750   5,135,792 -236,042
137,563   527,995 -390,432
4,234,548   4,234,749 -201
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       12,405,780
b       3,353,752
c       19,789,917
d       266,550
e       400,000
      33,360
      -236,042
      -390,432
      -201
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 35,622,684
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 561,460
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- ..... 5 561,460
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 166,064
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 257,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 423,064
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 392
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 138,788
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet   RefundedBullet 11  
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY, DE, NM
    b
    If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2021 or the taxable year beginning in 2021? See the instructions for Part XIII.
    If "Yes," complete Part XIII .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletwww.carrollpetrie.org
    14
    The books are in care ofbulletZach Dillenback Telephone no.bullet (212) 530-5880

    Located atbullet401 East Palace AvenueSanta FeNM ZIP+4bullet875012223
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    Theodora Portago President & Director
    40.00     		257,025 31,297 0
    401 East Palace Ave
    Santa Fe,NM87501
    Carolina Portago Vice President, Director & Secretary
    5.00     		0 0 0
    401 East Palace Ave
    Santa Fe,NM87501
    Camille Manning Treasurer & Director
    5.00     		0 0 0
    401 East Palace Ave
    Santa Fe,NM87501
    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
    Zach Dillenback CFO
    40.00     		195,818 27,310 0
    401 East Palace Ave
    Santa Fe,NM87501
    Samantha Ender VP Programs
    40.00     		156,108 24,448 0
    401 East Palace Ave
    Santa Fe,NM87501
    Joan Kelly Grants Manager
    40.00     		58,333 10,012 0
    401 East Palace Ave
    Santa Fe,NM87501
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    Monticello Associates Investment advisory services 300,000
    1800 Larimer Street Suite 2100
    Denver,CO80202
    Milbank LLP Legal services 251,169
    55 Hudson Yards
    New York,NY10001
    Edge Philanthropy LLC Consulting services 193,838
    704 Talon Ct NE
    Rio Rancho,NM87144
    Blazek & Vetterling Audit and tax services 70,718
    2900 Weslayan Suite 200
    Houston,TX77027
    Total number of others receiving over $50,000 for professional services.............bullet0
    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.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    103,404,369
    b
    Average of monthly cash balances.......................
    1b
    4,299,103
    c
    Fair market value of all other assets (see instructions)................
    1c
    273,801,097
    d
    Total (add lines 1a, b, and c).........................
    1d
    381,504,569
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    381,504,569
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    5,722,569
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    375,782,000
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    18,789,100
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    18,789,100
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    561,460
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    38,696
    c
    Add lines 2a and 2b............................
    2c
    600,156
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    18,188,944
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    18,188,944
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    18,188,944
    Part XI
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
     
    b
    Program-related investments—total from Part VIII-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4.
    4
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 18,188,944
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 13,727,255
    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: bullet$ 13,996,166
    a Applied to 2020, but not more than line 2a 13,727,255
    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..... 268,911
    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 ..........     		17,920,033
    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)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    Advocates for Citizens' Rights
    3024 E Chapman Ave Unit 415
    Orange,CA92869     		N/A PC General support 15,000
    Alamogordo Animal Control Center
    1376 E Ninth Street
    Alamogordo,NM88310     		N/A GOV General support 50,000
    American Rivers
    1101 14th Street NW Suite 1400
    Washington,DC20005     		N/A PC Protecting Wild Rivers of the Southwest 250,000
    Amigos Bravos
    PO Box 238
    Taos,NM87571     		N/A PC General support 100,000
    Animal Humane New Mexico
    615 Virginia St SE
    Albuquerque,NM87108     		N/A PC General support; Project Fetch; NMLuvsPets 157,000
    Animal Legal Defense Fund
    525 East Cotati Ave
    Cotati,CA94931     		N/A PC Criminal Justice and Litigation Programs 500,000
    Animal Protection New Mexico
    PO Box 11395
    Albuquerque,NM87192     		N/A PC General support 500,000
    Animal Services Center of the Mesilla Valley
    3551 Bataan Memorial West
    Las Cruces,NM88012     		N/A GOV Animal Services Center support 150,000
    Animal Village NM
    1703 Sudderth Dr 564
    Ruidoso,NM88345     		N/A PC General support 10,000
    Animal Welfare Coalition of Northeastern NM
    P O Box 524
    Las Vegas,NM87701     		N/A PC General support 50,000
    Audubon Southwest
    225 Varick Street 7th Floor
    New York,NY10014     		N/A PC Protecting & Restoring Rio Grande Habitat 100,000
    Aztec Animal Shelter
    825 Sabena Street
    Aztec,NM87410     		N/A GOV Animal Shelter support 100,000
    Best Friends Animal Society
    5001 Angel Canyon Road
    Kanab,UT84741     		N/A PC Work in Navajo Nation and New Mexico 250,000
    Beyond Pesticides
    701 E Street SE Suite 200
    Washington,DC20003     		N/A PC General support 150,000
    Bluebonnet Animal Rescue Network
    PO Box 964
    Whitewright,TX75491     		N/A PC General support 5,000
    Bridging the Worlds
    PO Box 9109
    Santa Fe,NM87504     		N/A PC General support 15,000
    Bro and Tracy Animal Welfare
    PO Box 404
    Corrales,NM87048     		N/A PC General support 10,000
    Building Biology Institute
    PO Box 8520
    Santa Fe,NM87504     		N/A PC General support 15,000
    Carnegie Hill Neighbors
    1326 Madison Avenue Garden Level
    New York,NY10128     		N/A PC General support 25,000
    Center for Biological Diversity
    PO Box 710
    Tucson,AZ85702     		N/A PC New Mexico & Southwest Programs 500,000
    Center for Contemporary Sciences
    9841 Washingtonian Blvd Ste 200
    Gaithersburg,MD20878     		N/A PC General support 150,000
    Center for Food Safety
    518 C Street NE Suite 200
    Washington,DC20002     		N/A PC Pollinators & Pesticide Program; GMO Campaign 500,000
    Central Park Conservancy
    14 East 60th Street
    New York,NY10022     		N/A PC General support 25,000
    Chimp Haven
    13600 Chimpanzee Pl
    Keithville,LA71047     		N/A PC Chimp Care 150,000
    Colorado Plateau Foundation
    113 E Birch Ave
    Flagstaff,AZ86001     		N/A PC Grantmaking Program 50,000
    Conservation Lands Foundation
    835 E 2nd Ave Suite 314
    Durango,CO81301     		N/A PC Work in New Mexico 50,000
    Conservation Science Partners
    11050 Pioneer Trl Ste 202
    Truckee,CA96161     		N/A PC Analytics Lab support 100,000
    Conservation Voters NM Education Fund
    121 Sandoval Street Suite 200
    Santa Fe,NM87501     		N/A PC Work for wildlife and public lands 75,000
    Covenant Pathways
    PO Box 455
    Vanderwagen,NM87326     		N/A PC General support 25,000
    Defenders of Wildlife
    1130 17th Street NW
    Washington,DC20036     		N/A PC Southwest Program & Wildlife Restoration Campaign 500,000
    Delaware Valley Humane Society
    PO Box 182
    Sidney,NY13838     		N/A PC General support 20,000
    Deming Animal Guardians
    PO Box 1275
    Deming,NM88031     		N/A PC General support 20,000
    Deming-Luna County Humane Society
    PO Box 70
    Deming,NM88031     		N/A PC General support 50,000
    Denkai Animal Sanctuary
    22633 Road 176
    Yellow Jacket,CO81335     		N/A PC Transportation and general support 100,000
    Dharmahorse Equine Sanctuary
    6874 Coyote Road
    Las Cruces,NM88012     		N/A PC General support 5,000
    Ecology Action
    5798 Ridgewood Rd
    Willits,CA95490     		N/A PC General support 50,000
    End of the Road Ranch
    PO Box 370
    Silver City,NM88062     		N/A PC General support 10,000
    Environmental Health Trust
    PO Box 58
    Teton Village,WY83025     		N/A PC General support 15,000
    Equine Spirit Sanctuary
    13 Los Caballos Road
    Ranchos de Taos,NM875577825     		N/A PC General support 10,000
    Farm to Table New Mexico
    518 Old Santa Fe Trail Suite 1 Box
    171
    Santa Fe,NM87505     		N/A PC General support 20,000
    Farmington Regional Animal Shelter
    133 Browning Parkway
    Farmington,NM87401     		N/A GOV Animal Shelter support 100,000
    Felines & Friends New Mexico
    369 Montezuma Ave 320
    Santa Fe,NM87501     		N/A PC Boarding facility 200,000
    Feral Cat Focus of Western New York
    PO Box 404
    East Aurora,NY14052     		N/A PC General support 10,000
    Food & Water Watch
    1616 P Street NW
    Washington,DC20036     		N/A PC Mega-Dairy & Factory Farm work in New Mexico 100,000
    Four Corners Equine Rescue
    22 Road 3334
    Aztec,NM87410     		N/A PC General support 25,000
    Friends of the Bosque del Apache Ntnl Wildlife Refuge
    PO Box 340
    San Antonio,NM87832     		N/A PC Water Wells Rehabilitation 250,000
    Friends of the Bosque del Apache Ntnl Wildlife Refuge
    PO Box 340
    San Antonio,NM87832     		N/A PC General support 15,000
    Heart and Soul Animal Sanctuary
    369 Montezuma Avenue 130
    Santa Fe,NM87501     		N/A PC General support 25,000
    Holistic Management International
    2425 San Pedro Dr NE Suite A
    Albuquerque,NM87110     		N/A POF Pollinators & Birds Habitats 50,000
    Humane Society of Central Delaware County
    PO Box 88
    Delhi,NY13753     		N/A PC General support 50,000
    Humane Society of the United States
    700 Professional Dr
    Gaithersburg,MD208793418     		N/A PC #BeCrueltyFree & U.S. Animal Research Campaigns 150,000
    Kindred Spirits Animal Sanctuary
    3749 A State Highway 14
    Santa Fe,NM87508     		N/A PC General support 85,000
    McKinley County Humane Society of NM
    PO Box 10
    Gallup,NM87305     		N/A PC General support 50,000
    Mount Sinai Medical Center Inc
    One Gustave Levy Place Box 1049
    New York,NY10029     		N/A PC Smoking Cessation Program 15,000
    Mustang Camp
    PO Box 620
    Blanco,NM87412     		N/A PC General support 5,000
    National Anti-Vivisection Society (NAVS)
    444 N Wells Street Suite 406
    Chicago,IL60654     		N/A PC General support 50,000
    New Mexico Wilderness Alliance
    317 Commercial St NE Ste 300
    Albuquerque,NM87102     		N/A PC General support 250,000
    New Mexico Wildlife Center
    19 Wheat Street
    Espaola,NM87532     		N/A PC General support 100,000
    No Left Turn in Education
    1318 Club House Rd
    Gladwyne,PA19035     		N/A PC General support 15,000
    Panthera Corporation
    8 West 40th St 18th Fl
    New York,NY100182218     		N/A PC Range-wide puma assessment 175,000
    Pesticide Action Network
    2029 University Ave Ste 200
    Berkeley,CA94704     		N/A PC General support 150,000
    Prairie Dog Pals
    PO Box 14235
    Albuquerque,NM87191     		N/A PC General support 5,000
    Quivira Coalition
    1413 Second St Suite 1
    Santa Fe,NM87505     		N/A PC General support 100,000
    Raton Humane Society
    PO Box 1321
    Raton,NM87740     		N/A PC General support 10,000
    Resources Legacy Fund
    555 Capitol Mall Suite 1095
    Sacramento,CA95814     		N/A PC Bears Ears Inter-Tribal Coalition 25,000
    Rio Grande Foundation
    PO Box 40336
    Albuquerque,NM87196     		N/A PC General support 15,000
    Rio Grande Return
    1704B Llano St 347
    Santa Fe,NM87505     		N/A PC General support 150,000
    Rio Grande Return
    1704B Llano St 347
    Santa Fe,NM87505     		N/A PC General support 150,000
    Rodale Institute
    611 Siegfriedale Road
    Kutztown,PA195309320     		N/A PC New Mexico Program & general support 250,000
    Rodale Institute
    611 Siegfriedale Road
    Kutztown,PA195309320     		N/A PC New York Program 100,000
    San Luis Valley Animal Welfare Society
    76 El Rio Drive
    Alamosa,CO81101     		N/A PC General support 25,000
    Santa Fe Animal Shelter
    100 Caja Del Rio Rd
    Santa Fe,NM87507     		N/A PC Transfer Program 25,000
    Santa Fe Forest Coalition
    PO Box 1943
    Santa Fe,NM87504     		N/A PC General support 25,000
    Sjogren's Foundation
    10701 Parkridge Blvd Suite 170
    Reston,VA20191     		N/A PC General support 35,000
    Sky Mountain Wild Horse Sanctuary
    PO Box 2946
    Santa Fe,NM87504     		N/A PC General support 25,000
    Stray Hearts Animal Shelter
    PO Box 622
    Taos,NM87571     		N/A PC General support 100,000
    Street Cat HUB
    PO Box 53207
    Albuquerque,NM87153     		N/A PC General support 50,000
    Tewa Women United
    PO Box 397
    Santa Cruz,NM87567     		N/A PC General support 10,000
    The Elephant Sanctuary
    PO Box 393
    Hohenwald,TN38462     		N/A PC Elephant Care 100,000
    The Horse Shelter
    821 W San Mateo Rd A
    Santa Fe,NM87505     		N/A PC General support 50,000
    The Toby Project Inc
    220 West 72nd Street
    New York,NY10023     		N/A PC General support 15,000
    The Wilderness Society
    1801 Pennsylvania Avenue NW Suite
    200
    Washington,DC20006     		N/A PC Protections of wildlife refuges in New Mexico 200,000
    The Xerces Society Inc
    628 NE Broadway Ste 200
    Portland,OR97232     		N/A PC Pollinators and Pesticides, New Mexico work, general support 350,000
    The Xerces Society Inc
    628 NE Broadway Ste 200
    Portland,OR97232     		N/A PC New Mexico Pesticide Specialist Hire 100,000
    Training Resources for the Environmental Comm
    1000 Cordova Pl 551
    Santa Fe,NM87505     		N/A PC Management Training Series 15,000
    Trout Unlimited
    1777 N Kent Street Suite 100
    Arlington,VA22209     		N/A PC Conservation work in New Mexico 200,000
    United4Change
    2480 Times Blvd Suite 204-B
    Houston,TX77005     		N/A PC General support 50,000
    Vanguard Charitable
    PO Box 9509
    Warwick,RI02889     		N/A PC Donor Advised Fund 2,405,000
    Walkin N Circles Ranch
    PO Box 626
    Edgewood,NM87015     		N/A PC General support 30,000
    Western Environmental Law Center
    208 Paseo del Pueblo Sur 602
    Taos,NM87571     		N/A PC Work in New Mexico 100,000
    Western Landowners Alliance
    PO Box 6278
    Santa Fe,NM87502     		N/A PC Work in New Mexico 100,000
    Western Resource Advocates
    2260 Baseline Road Suite 200
    Boulder,CO80302     		N/A PC Hire and general support 150,000
    Weston A Price Foundation
    4200 Wisconsin Ave NW Ste 106 380
    Washington,DC20016     		N/A PC General support 15,000
    White Coat Waste Project
    PO Box 26029
    Washington,DC20001     		N/A PC General support 150,000
    Wild Earth Society Inc
    329 W Pierpont Ave Suite 300
    Salt Lake City,UT84101     		N/A PC Lobo Coalition 25,000
    Wild Earth Society Inc
    329 W Pierpont Ave Suite 300
    Salt Lake City,UT84101     		N/A PC New Mexico Program 250,000
    Wild Spirit Wolf Sanctuary
    378 Candy Kitchen Road HC 61 Box 28
    Ramah,NM87321     		N/A PC General support 25,000
    WildEarth Guardians
    301 N Guadalupe St Ste 201
    Santa Fe,NM87501     		N/A PC The Forest Advocate 15,000
    WildEarth Guardians
    301 N Guadalupe St Ste 201
    Santa Fe,NM87501     		N/A PC New Mexico program support; Forest Wisdom position 425,000
    Total .................................bullet 3a 12,617,000
    bApproved for future payment
    Animal Legal Defense Fund
    525 East Cotati Ave
    Cotati,CA94931     		N/A PC Criminal Justice and Litigation Programs 500,000
    Beyond Pesticides
    701 E Street SE Suite 200
    Washington,DC20003     		N/A PC General support 150,000
    Center for Food Safety
    518 C Street NE Suite 200
    Washington,DC20002     		N/A PC Pollinators & Pesticide Program; GMO Campaign 500,000
    Panthera Corporation
    8 West 40th St 18th Fl
    New York,NY10018     		N/A PC Range-wide puma assessment 175,000
    Pesticide Action Network
    2029 University Ave Ste 200
    Berkeley,CA94704     		N/A PC General support 150,000
    Santa Fe Forest Coalition
    PO Box 1943
    Santa Fe,NM87504     		N/A PC General support 25,000
    The Xerces Society Inc
    628 NE Broadway Ste 200
    Portland,OR97232     		N/A PC New Mexico Pesticide Specialist Hire 100,000
    Western Resource Advocates
    2260 Baseline Road Suite 200
    Boulder,CO80302     		N/A PC Hire and general support 150,000
    Wild Spirit Wolf Sanctuary
    378 Candy Kitchen Road HC 61 Box 28
    Ramah,NM87321     		N/A PC General support 25,000
    WildEarth Guardians
    301 N Guadalupe St Ste 201
    Santa Fe,NM87501     		N/A PC New Mexico program support; Forest Wisdom position 425,000
    Total .................................bullet 3b 2,200,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 753  
    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 ............     		525990 456,399 18 35,622,684  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aPassthrough K-1 income     		525990 109,071 14 4,759,101  
    bForeign dividend income     14 1,855,600  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 565,470 42,963,295 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    43,528,765
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

    (a) Name of organization (b) Type of organization (c) Description of relationship
    Sign Here
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below?
    See instructions.
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2021
    Name of the organization
    Carroll Petrie Foundation
     
    Employer identification number

    13-3912203
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    Carroll Petrie Foundation
          		Employer identification number
    13-3912203
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    Estate of Carroll Petrie CO Shulte
     
    Roth Zabel 919 Third Avenue
     
    New York, NY10022

    		$ 11,647,699


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    Carroll Petrie Foundation
          		Employer identification number

    13-3912203
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    Carroll Petrie Foundation
          		Employer identification number

    13-3912203
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Accounting and tax compliance 98,092 21,702   74,890

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    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 Date of Verification Results of Verification
    Holistic Management International
          		2425 San Pedro Dr NE Suite A
    Albuquerque,NM87110     		2021-08-20 50,000 Pollinators and bird habitats grazing workshops in Colorado, Texas, and New Mexico 1,455   4/04/22   The Foundation has no reason to doubt the accuracy or reliability of the report from the grantee; therefore, no independent verification was made.

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

    TY 2021 GainLossSaleOtherAssetsSch
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    Passthrough -1231 loss -UBI Amberbrook VIII, LP 2021-01 Purchased 2021-12   1,615   Cost 0 1,615  
    Passthrough -1231 loss -UBI Graham Partners V, LP 2021-01 Purchased 2021-12     2,033 Cost 0 -2,033  
    Passthrough -1231 loss -UBI Lexington Middle Mkt Investors IV, LP 2021-01 Purchased 2021-12   11,342   Cost 0 11,342  
    Passthrough -1231 loss -UBI The Varde Fund XIII, LP 2021-01 Purchased 2021-12     928 Cost 0 -928  
    Passthrough- ST Capital gain -UBI Amberbrook VIII, LP 2021-01 Purchased 2021-12   99   Cost 0 99  
    Passthrough- ST Capital gain -UBI Graham Partners V, LP 2021-01 Purchased 2021-12     25 Cost 0 -25  
    Passthrough- ST Capital gain -UBI Lexington Middle Mkt Investors IV, LP 2021-01 Purchased 2021-12   7,891   Cost 0 7,891  
    Passthrough- ST Capital gain -UBI Madison Dearborn Cap Ptnr VIII-A, LP 2021-01 Purchased 2021-12     16 Cost 0 -16  
    Passthrough- ST Capital gain -UBI The Varde Fund XIII, LP 2021-01 Purchased 2021-12   72,222   Cost 0 72,222  
    Passthrough- LT Capital gain -UBI Amberbrook VIII, LP 2020-01 Purchased 2021-12   34   Cost 0 34  
    Passthrough- LT Capital gain -UBI Lexington Middle Mkt Investors IV, LP 2020-01 Purchased 2021-12   130,179   Cost 0 130,179  
    Passthrough- LT Capital gain -UBI Madison Dearborn Cap Ptnr VIII-A, LP 2020-01 Purchased 2021-12   239,374   Cost 0 239,374  
    Passthrough- LT Capital gain -UBI The Varde Fund XIII, LP 2020-01 Purchased 2021-12     3,355 Cost 0 -3,355  
    Passthrough- LT Capital gain -UBI True Wind Capital II, LP 2020-01 Purchased 2021-12       Cost 0    

    TY 2021 GeneralExplanationAttachment
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Identifier Return Reference Explanation
      Form 990-PF Part II, Line 22 - Charitable Gift Annuity Reserve Under the terms of the settlement agreement dated November 14, 2017 and formally entered into the record of the New York County Surrogate's Court between the Estate of Carroll Petrie, the Carroll Petrie Foundation ("Foundation") and three individuals ("Annuitants") who had been named as beneficiaries of certain unfunded charitable remainder annuity trusts under the will of Mrs. Carroll Petrie, the Carroll Petrie Foundation was obligated to use a distribution in the amount of $3,500,000 from the Estate of Carroll Petrie to establish three charitable gift annuities for the benefit of these individuals in the amount of $1,000,000 each, and to make a lump sum payment to each beneficiary representing the annuities each such individual would have been entitled to receive from the date of Mrs. Petrie's death through the establishment of the charitable gift annuities. The Charities Bureau of the Office of the Attorney General of the State of New York participated in the settlement negotiations and approved the terms of the settlement agreement. In connection therewith, the Foundation requested and received approval from the New York State Department of Financial Services for a special permit to issue said charitable gift annuities, which approval is limited to the issuance of these particular charitable gift annuities. As required by the New York State Department of Financial Services, the Foundation maintains a mandated reserve of $1,726,840 as of December 31, 2021, for the surviving annuitants of which there are two remaining. The Foundation filed its 2021 annual statement of the segregated gift annuity fund with the New York State Department of Financial Services, as required by law. The annual annuity payments (total $97,985 per year) are payable to the surviving Annuitants for life. The Annuitants are not related to the Foundation or to any of the managers or directors of the Foundation.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Name of Bond End of Year Book Value End of Year Fair Market Value
    JPM Limited Duration Bond Fund R6 16,100,006 16,239,069

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Name of Stock End of Year Book Value End of Year Fair Market Value
    Edgewood Growth Fund Institutional 10,104,184 27,224,912
    GMO Emerging Domestic Opportunities Fund II 8,995,728 9,221,176
    SPDR S&P 500 ETF Trust 8,615,277 16,500,585
    Spyglass Growth Fund Institutional 5,000,000 6,803,653
    Vanguard Lifestrategy Growth Fund 1,775,638 2,341,213

    TY 2021 InvestmentsOtherSchedule2
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    Amberbrook VIII, LP AT COST 3,415,230 5,528,568
    Anchorage Capital Partners Offshore, Ltd. AT COST 5,735,252 6,989,267
    Arisaig Global Emerging Markets Consumer Fund, Ltd. AT COST 2,500,000 3,926,770
    Axiom Asia 5, LP AT COST 2,525,765 3,847,518
    Axiom Asia 6, LP AT COST 953,377 1,104,334
    Bain Capital Global Long Equity Fund (Offshore), LP AT COST 15,000,000 15,000,000
    Bluegrass Equity Fund, LP AT COST 2,288,334 3,351,262
    Canyon Distressed Opportunity Fund II (Cayman), LP AT COST 0 32,061
    Canyon Distressed Opportunity Fund III (Cayman), LP AT COST 3,328,940 3,687,133
    Casdin Partners Offshore, Ltd. AT COST 5,000,000 5,000,000
    CD&R Fund X, LP AT COST 1,613,545 2,209,725
    CD&R Fund X (Credit), LP AT COST 9,832 14,455
    CD&R Fund X Energy B, LP AT COST 184,819 165,952
    CD&R Fund X Orange B, LP AT COST 134,673 275,859
    CD&R Fund X Waterworks B1, LP AT COST 247,973 1,378,313
    CD&R Fund XI, LP AT COST 475,850 594,953
    CD&R Fund XI AIV B, LP AT COST 73,114 76,087
    Cedar Rock Capital Partners, LLC AT COST 11,447,564 14,012,270
    CTF Research Equity (Wellington) AT COST 18,567,964 24,009,230
    Davidson Kempner Institutional Partners, LP AT COST 7,573,794 7,745,583
    Davidson Kempner LT Distressed Opport Intnl IV, LP AT COST 1,946,772 2,452,178
    Davidson Kempner LT Distressed Opport Intnl IV (AIV), LP AT COST 1,077,727 1,100,602
    Davidson Kempner LT Distressed Opport Intnl V, LP AT COST 2,942,491 3,321,885
    Davidson Kempner LT Distressed Opport Intnl V (AIV-TE), LP AT COST 1,097,849 1,121,859
    Farallon Capital Institutional Partners, LP AT COST 6,294,247 6,654,848
    Farallon Equity Partners, LP AT COST 20,734,618 27,657,869
    Farallon Special Situations Fd LP AT COST 2,964,660 2,851,918
    Farallon Special Situations Fd II AT COST 1,097,334 1,087,457
    Golub Capital Partners International 11, LP AT COST 2,657,141 2,698,374
    Golub Capital Partners International 12, LP AT COST 4,468,550 4,618,372
    GQG Partners Emerging Markets Equity Fund AT COST 6,426,288 8,089,607
    GQG Partners Internl Equity Fund AT COST 15,535,702 20,985,781
    Graham Partners V, LP AT COST 1,438,834 2,874,772
    Harbor Spring Capital Partners Offshore, Ltd. AT COST 5,000,000 6,847,865
    Highclere International Investors SMID Fund AT COST 10,223,086 11,287,725
    Impala Fund Ltd. AT COST 7,000,000 10,827,061
    Junto Offshore Fund Ltd. AT COST 10,000,000 10,000,000
    Kabouter Intnl Opportunities Offshore Fund II Ltd. AT COST 2,500,000 3,148,107
    Lexington Middle Market Investors IV, LP AT COST 1,777,801 2,636,317
    Madison Dearborn Capital Partners VIII-A, LP AT COST 1,152,098 1,569,679
    Madison Dearborn Capital Partners VIII-B LP AT COST 117,455 266,094
    MW Eureka Fund AT COST 8,000,000 12,076,767
    Newport Asia Institutional Fund, LP AT COST 8,220,458 11,561,968
    Nut Tree Drawdown Offshore Fund, LP AT COST 0 1,662,635
    Nut Tree Offshore Fund Ltd. AT COST 5,000,000 7,041,082
    Owl Rock First Lien Fund (Offshore), LP AT COST 4,131,496 4,314,511
    Redwood Drawdown Offshore Fd II LP AT COST 0 1,350,035
    Redwood Drawdown Offshore Fd III LP AT COST 250,000 257,272
    Sageview Capital Partners II (Offshore) LP AT COST 3,053,986 5,200,084
    Sageview Capital Partners III (B), LP AT COST 652,749 765,915
    Select Equity Offshore, Ltd. AT COST 9,885,425 22,124,165
    StepStone VC Secondaries Fund V (Cayman), LP AT COST 2,025,000 2,151,111
    The Overlook Partners Fund, LP AT COST 3,912,259 4,684,291
    The Sanderson International Value Fd AT COST 12,669,696 12,775,260
    The Varde Fund XIII, LP AT COST 3,466,904 3,465,835
    True Wind Capital II, LP AT COST 361,946 498,787
    VIP IV Feeder, LP AT COST 1,014,710 1,065,163

    TY 2021 LegalFeesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    General governance and counsel 259,106 37,732   221,374


    TY 2021 OtherDecreasesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Description Amount
    Change in CGA reserve liability 45,619


    TY 2021 OtherExpensesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Passthrough K-1 expenses 2,263,486 2,140,985   0
    Filing fees- NY 3,679 650   3,029
    Insurance 11,501 575   10,926
    IT expenses 51,572 1,580   49,992
    Office expense 4,360 203   4,157
    Membership and subscriptions 7,550 0   7,550
    Bank charges 6,710 6,710   0
    Staff development 121 0   121


    TY 2021 OtherIncomeSchedule2
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Passthrough K-1 income 4,868,172 4,765,976 4,868,172
    Foreign dividend income 1,855,600 1,855,600 1,855,600


    TY 2021 OtherIncreasesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Description Amount
    Prior period tax basis adjustment 410,614


    TY 2021 OtherLiabilitiesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Description Beginning of Year - Book Value End of Year - Book Value
    Charitable gift annuity reserve 1,764,061 1,726,840


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment management fees 300,000 300,000   0
    Grants management fees 193,838 0   193,838
    Payroll processing fees 3,770 292   3,478


    TY 2021 TaxesSchedule
    Name:
    Carroll Petrie Foundation
    EIN:
    13-3912203
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Federal excise tax 160,000 0   0