Form990-PF
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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
Sapphire Foundation Inc
 
% 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

30-0674167
B Telephone number (see instructions)

(800) 839-1754
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$33,174,582J 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) 0
2 Check bullet.............
3 Interest on savings and temporary cash investments 299 299  
4 Dividends and interest from securities... 323,519 321,027  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,005,993
b Gross sales price for all assets on line 6a 9,686,623
7 Capital gain net income (from Part IV, line 2)... 2,905,633
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 693,393 573,844  
12 Total. Add lines 1 through 11........ 4,023,204 3,800,803  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 91,154     91,154
14 Other employee salaries and wages...... 15,577     15,577
15 Pension plans, employee benefits....... 8,165     8,165
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment 108,053 108,053    
17 Interest............... 11     11
18 Taxes (attach schedule) (see instructions)... Click to see attachment 118,419 15,679    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 11,850     11,850
21 Travel, conferences, and meetings....... 13,698     13,698
22 Printing and publications.......... 425     425
23 Other expenses (attach schedule)....... Click to see attachment 383,469 276,874   49,927
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 750,821 400,606   190,807
25 Contributions, gifts, grants paid....... 814,098 814,098
26 Total expenses and disbursements. Add lines 24 and 25 1,564,919 400,606   1,004,905
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 2,458,285
b Net investment income (if negative, enter -0-) 3,400,197
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......... 755,595 1,232,531 1,232,531
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet50,000
Less: allowance for doubtful accounts bullet   0 Click to see attachment50,000 50,000
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)   Click to see attachment361,557 357,552
b Investments—corporate stock (attach schedule)....... 8,746,444 Click to see attachment8,353,755 10,406,316
c Investments—corporate bonds (attach schedule)....... 461,440 Click to see attachment357,003 374,020
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 16,571,332 Click to see attachment17,938,250 19,804,163
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment250,000 Click to see attachment950,000 Click to see attachment950,000
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 26,784,811 29,243,096 33,174,582
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)......... 0 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 26,784,811 29,243,096
29 Total net assets or fund balances (see instructions)..... 26,784,811 29,243,096
30 Total liabilities and net assets/fund balances (see instructions). 26,784,811 29,243,096
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
26,784,811
2
Enter amount from Part I, line 27a .....................
2
2,458,285
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
29,243,096
5
Decreases not included in line 2 (itemize) bullet
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
29,243,096
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 Passthrough K1 Capital Gain/(Loss)      
c BLUE MARLIN TALF P 2020-05-06 2021-03-31
d OAKTREE REAL ESTATE INCOME TRUST INC P 2020-02-25 2021-05-06
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 8,407,279   6,730,838 1,676,441
b       1,239,807
c 1,027,107   1,047,150 -20,043
d 252,237   242,809 9,428
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       1,676,441
b        
c       -20,043
d       9,428
e
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 2,905,633
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 47,263
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 47,263
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 33,428
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 400
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 33,828
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 23
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9 13,458
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$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the 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)
    bulletTN, TX
    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 instructions.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbullet  
    14
    The books are in care ofbulletFoundation Source Telephone no.bullet (800) 839-1754

    Located atbullet501 Silverside Road Suite 123WilmingtonDE ZIP+4bullet198091377
    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
    Adriane Crosland Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Andy Crosland Dir, Treas
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Ben Crosland Dir, Sec, Executive Dir
    40.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Sandy Crosland Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Kate Juett Chairman of the Board, Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Ali Treaster Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    Justin Treaster Dir
    1.0     		0 0 0
    Foundation Source 501 Silverside Rd
    Wilmington,DE198091377
    2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
     
    Total number of other employees paid over $50,000...................bullet  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    REYNOLDS AND PARK WEALTH MANAGEMENT Investment Mgmt 104,053
    ONE UNION SQUARE STE 100
    CHATTANOOG,TN37402
    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 SUTHERLAND IMPACT FUND LP-HOUSING FOR PPL WITH DISABILITIES, SUPPORT UNDERSERVED WOMEN IN BUSINESS, LITERARY & ARTISTIC WORKS, SUSTAINABLE OPER MODELS FOR NON-PROFIT ORGANIZATIONS 250,000
    2 MISSION HILLS DEVELOPMENT LLC - DEVELOP A RES NEIGHBORHOOD TO CREATE AN INCLUSIVE HOUSING ENVIRONMENT, TO INCLUDE INDIVIDUALS WITH INTELLECTUAL AND DEVELOPMENTAL DISABILITIES 200,000
    All other program-related investments. See instructions.
    3 Click to see attachment 250,000
    Total. Add lines 1 through 3.........................bullet700,000
    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
    11,897,722
    b
    Average of monthly cash balances.......................
    1b
    1,238,290
    c
    Fair market value of all other assets (see instructions)................
    1c
    19,691,079
    d
    Total (add lines 1a, b, and c).........................
    1d
    32,827,091
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
     
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    32,827,091
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    492,406
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    32,334,685
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    1,616,734
    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
    1,616,734
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    47,263
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    26,681
    c
    Add lines 2a and 2b............................
    2c
    73,944
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    1,542,790
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    1,542,790
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    1,542,790
    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 1,542,790
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 1,331,415
    b Total for prior years:2019, 2018, 2017  
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........  
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 1,704,905
    a Applied to 2020, but not more than line 2a 1,331,415
    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..... 373,490
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		 
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		1,169,300
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		 
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021.... 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    Kate Juett
    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
    ADVISORY BOARD BOOKER T WASHINGTON H S FOR PERFORM
    PO BOX 192648
    DALLAS,TX75219     		N/A PC Patron of the Arts Magnet (PAM) Program 2,500
    AMERICAN CANCER SOCIETY
    PO BOX 1685
    ATLANTA,GA30303     		N/A PC Cattle Baron's Ball: Patient Transportation Fund (Dallas, TX) 5,000
    AMERICAN CANCER SOCIETY
    PO BOX 1685
    ATLANTA,GA30303     		N/A PC Cattle Baron's Ball 2021 Table 7,000
    AMISTAD MISSION
    PO BOX 23030
    NASHVILLE,TN37202     		N/A PC General & Unrestricted 5,000
    ANCHORED BY FAMILY
    4610 ISABELLA LN
    DALLAS,TX75229     		N/A PC General & Unrestricted 2,500
    BEHIND EVERY DOOR MINISTRIES INC
    2824 SWISS AVE
    DALLAS,TX75204     		N/A PC Hello Grant 2,500
    CARRY THE LOAD
    4809 COLE AVE
    DALLAS,TX75205     		N/A PC General & Unrestricted 1,000
    CARTER ALBRECHT MUSIC FOUNDATION
    6627 MISTY CREEK LN
    TEMPLE,TX76502     		N/A PC Music Scholarship Program Support 2,500
    CHILDRENS MEDICAL CENTER FOUNDATION
    2777 N STEMMONS FWY STE 1700
    DALLAS,TX75207     		N/A PC General & Unrestricted 10,000
    COMMUNITIES FOUNDATION OF TEXAS
    5500 CARUTH HAVEN LN
    DALLAS,TX75225     		N/A PC Dallas Truth Racial Healing & Transformation 3,500
    DALLAS CENTER FOR THE PERFORMING ARTS FOUNDATION I
    700 N PEARL ST STE N1800
    DALLAS,TX75201     		N/A PC Support of Arts Education Programming 10,000
    DALLAS FIREFIGHTERS MUSEUM INCORPORATED
    3801 PARRY AVE
    DALLAS,TX75226     		N/A PC General & Unrestricted 5,000
    DALLAS FIREFIGHTERS MUSEUM INCORPORATED
    3801 PARRY AVE
    DALLAS,TX75226     		N/A PC Planning You Escape Exhibit & General Support 50,000
    DALLAS FOUNDATION A TX NONPROFIT CORPORATION
    3000 PEGASUS PARK DR STE 930
    DALLAS,TX75247     		N/A PC AURORA Arts: Manhattan Bridge Exhibit Sponsor 13,500
    DALLAS MUSEUM OF ART
    1717 N HARWOOD ST
    DALLAS,TX75201     		N/A PC General & Unrestricted 10,000
    DALLAS ROTARY CLUB FOUNDATION
    PO BOX 601616
    DALLAS,TX75360     		N/A PC General Scholarship Fund 2,000
    DALLAS SOCIAL VENTURE PARTNERS
    PO BOX 670546
    DALLAS,TX75367     		N/A PC Dana Juett Residency Class of 2021-2022 30,000
    DALLAS THEATER CENTER
    2400 FLORA ST
    DALLAS,TX75201     		N/A PC General Support and Diamond Level Sponsor 35,000
    DEAF ACTION CENTER
    3110 CEDAR PLZ LANE
    DALLAS,TX75235     		N/A PC Hello Grant Recipient 3,500
    DKMS
    100 BROADWAY 6TH FL
    NEW YORK,NY10005     		N/A PC Dallas Breakfast Event Sponsor 3,000
    GOODWILL INDUSTRIES OF DALLAS INC
    3020 N WESTMORELAND RD
    DALLAS,TX75212     		N/A PC The Lunch Sponsorship (No Benefits) 10,000
    HIGHLAND PARK MIDDLE
    3555 GRANADA AVE
    DALLAS,TX75205     		N/A GOV General & Unrestricted 5,000
    IMPACT CITY INITIATIVE
    2807 ALLEN ST 813
    DALLAS,TX75204     		N/A PC General & Unrestricted 17,500
    INTERFAITH FAMILY SERVICES
    1651 MATILDA ST
    DALLAS,TX75206     		N/A PC Sponsorship of the 2022 Luncheon 35,000
    JOHN S BRADFIELD SCHOOL PARENT TEACHER ASSOCIATION
    4300 SOUTHERN AVE
    DALLAS,TX75205     		N/A PC General & Unrestricted 5,000
    JUNE SHELTON SCHOOL AND EVALUATION CENTER
    17301 PRESTON RD
    DALLAS,TX75252     		N/A PC Support for 2021-2022 Annual Fund 5,000
    JUNE SHELTON SCHOOL AND EVALUATION CENTER
    17301 PRESTON RD
    DALLAS,TX75252     		N/A PC General & Unrestricted 50,000
    JUNIOR LEAGUE OF DALLAS CENTENNIAL ENDOWMENT FOUND
    8003 INWOOD RD
    DALLAS,TX75209     		N/A SO I General & Unrestricted 10,000
    JUST COMMUNITY INC
    PO BOX 153188
    AUSTIN,TX78715     		N/A PC Legal Fees 2021 5,500
    LEGACY PARENTING CENTER
    PO BOX 3574
    SHAWNEE,OK74802     		N/A PC Support for the Hope Club 898
    MERCY STREET INC
    3801 HOLYSTONE ST
    DALLAS,TX75212     		N/A PC Leadership Institute Program Support 25,000
    MILES OF FREEDOM
    2922 MARTIN LUTHER KING JUNIOR BOUL
    DALLAS,TX75215     		N/A PC Support of Lawn Care & Financial Operations 12,500
    MISS TEXAS SCHOLARSHIP FOUNDATION
    1802 ROLLING RIDGE DR
    GRAPEVINE,TX76051     		N/A PC General & Unrestricted 1,000
    NET FORT WORTH INC
    PO BOX 470928
    FORT WORTH,TX76147     		N/A PC Survivor Led Empowerment Program (All Instructor Fees) 12,500
    NETWORK FOR TEACHING ENTREPRENEURSHIP
    201 N BRAND BLVD STE 200
    GLENDALE,CA91203     		N/A PC Dallas Independent School District- P-TECH Program 7,500
    NETWORK GROUP INC
    PO BOX 13873
    ARLINGTON,VA22219     		N/A PC Test & Prove Disruption Methods 25,000
    NEW KEY SCHOOL INC
    7950 JOHN T WHITE RD
    FORT WORTH,TX76120     		N/A PC Capital Campaign Support 25,000
    PARISH EPISCOPAL SCHOOL
    4101 SIGMA RD
    DALLAS,TX75244     		N/A PC Support of 2021-2022 Annual Fund 5,000
    PEGASUS FOUNDATION DBA DALLAS INSTITUTE OF HUMAN
    2723 ROUTH ST
    DALLAS,TX75201     		N/A PC General & Unrestricted 80,000
    PEROT MUSEUM OF NATURE AND SCIENCE
    2201 N FIELD ST
    DALLAS,TX75201     		N/A PC Educational Outreach Program Support 10,000
    PHILANTHROPY SOUTHWEST
    624 NORTH GOOD-LATIMER EXPY
    DALLAS,TX75204     		N/A PC Sustainable Philanthropy Program & 2021 Membership 51,700
    RONALD MCDONALD HOUSE OF DALLAS INC
    4707 BENGAL ST
    DALLAS,TX75235     		N/A PC In Honor of the 40th Year Celebration 5,000
    SAINT MICHAEL EPISCOPAL SCHOOL
    PO BOX 12385
    DALLAS,TX75225     		N/A PC Sponsorship of St. Michael's School 2022 Auction 10,000
    SALESMANSHIP CLUB CHARITABLE GOLF OF DALLAS INC
    106 E 10TH ST 200
    DALLAS,TX75203     		N/A PC General & Unrestricted 10,000
    SECOND THOUGHT THEATRE
    3839 MCKINNEY AVE STE 155452
    DALLAS,TX75204     		N/A PC General & Unrestricted 10,000
    SIMPLY GRACED
    580 W ARAPAHO RD STE 208
    RICHARDSON,TX75080     		N/A PC Transitional Living Program For Women 5,000
    SOUTHERN METHODIST UNIVERSITY
    PO BOX 750181
    DALLAS,TX75275     		N/A PC Support for SMU-IN-TAOS Program 25,000
    SOUTHERN METHODIST UNIVERSITY
    PO BOX 750181
    DALLAS,TX75275     		N/A PC Dallas Literary Festival 2022: Partner Level Sponsorship 5,000
    TACA INC
    1722 ROUTH ST STE 800
    DALLAS,TX75201     		N/A PC Resiliency Workshop Series 10,000
    THE BAYLOR SCHOOL
    171 BAYLOR SCHOOL RD
    CHATTANOOGA,TN37405     		N/A PC Annual Fund 2020-2021 1,000
    THE CRYSTAL CHARITY BALL
    TWO TURTLE CREEK 3838 OAK LAWN AVE
    DALLAS,TX75219     		N/A PC General & Unrestricted 5,000
    THE UNIVERSITY OF TEXAS AT AUSTIN
    PO BOX 7458
    AUSTIN,TX78713     		N/A GOV Darren Walker Scholars Program Scholarship Fund 5,000
    TREY ATHLETES
    3131 MAIN ST APT 1515
    DALLAS,TX75226     		N/A PC General & Unrestricted 3,500
    TRINITY RESTORATION MINISTRIES
    PO BOX 363
    ROWLETT,TX75030     		N/A PC Support For Re-Entry Program 5,000
    UNIVERSITY PARK SCHOOL PARENT- TEACHER ASSOCIATION
    3505 AMHERST AVE
    DALLAS,TX75225     		N/A PC UP Carnival: Sponsorship 1,000
    UNIVERSITY PARK SCHOOL PARENT- TEACHER ASSOCIATION
    3505 AMHERST AVE
    DALLAS,TX75225     		N/A PC Sponsorship of 2022 UP Auction 10,000
    UNIVERSITY PARK SCHOOL PARENT- TEACHER ASSOCIATION
    3505 AMHERST AVE
    DALLAS,TX75225     		N/A PC Up All Night Sponsorship 1,000
    URBAN TEACHER CENTER
    1800 WASHINGTON BLVD STE 411
    BALTIMORE,MD21230     		N/A PC Dallas Independent School District: ACE School Program 25,000
    WEZMORE PROJECT INC
    5429 LYNDON B JOHNSON FWY 350
    DALLAS,TX75240     		N/A PC SEL Curriculum Testing & Program Development 50,000
    WEZMORE PROJECT INC
    5429 LYNDON B JOHNSON FWY 350
    DALLAS,TX75240     		N/A PC Sponsorship of Wezmore Event in Dallas, Texas 5,000
    WILKINSON CENTER
    PO BOX 720248
    DALLAS,TX75372     		N/A PC To Support the Food & Emergency Support Program 10,000
    WOMEN IN NEED OF GENEROUS SUPPORT
    1903 ANSON RD
    DALLAS,TX75235     		N/A PC Economic Advancement Program 10,000
    Total .................................bullet 3a 814,098
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		    14 299  
    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 100,360 18 2,905,633  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aK-1 Inc/Loss     		525990 109,932 14 575,525  
    bFederal Tax Refund     01 7,936  
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 210,292 3,812,912  
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    4,023,204
    (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

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Category Amount
    DEEP VELLUM PUBLISHING, INC. - SUSTAINABLE IMPACT PROJECT - ACQUISITION & DEV OF EXISTING LITERARY ASSETS & DEV & TRANSLATION OF LIT WORKS BY EMERGING & ESTABLISHED ARTISTS 250,000

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

    TY 2021 DepreciationSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    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

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    TY 2021 ExpenditureResponsibilityStmt
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    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
    SUSTAIN INITIATIVE LLC
          		2807 ALLEN ST 813
    DALLAS,TX75226     		2019-12-10 250,000 PRI INVEST-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO 01/08/2021, 01/04/2022   THE GRANTOR HAS NO REASON TO DOUBT THE ACCURACY OR RELIABILITY OF THE REPORT FROM THE GRANTEE; THEREFORE, NO INDEPENDENT VERIFICATION OF THE REPORT WAS MADE.
    MISSION HILLS DEVELOPMENT LLC
          		2301 Cedar Springs Rd STE 450
    Dallas,TX75201     		2021-08-25 200,000 PRI LOAN-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   NONE NECESSARY
    SUTHERLAND IMPACT FUND LP
          		2807 Allen Street 813
    Dallas,TX75204     		2021-12-13 250,000 PRI INVEST-SEE GENERAL EXPLANATION FOR PURPOSE & ADDTL DETAILS RE AMT EXPENDED & LACK OF DIVERSION   NO SEE GENERAL EXPLANATION ATTACHMENT   NONE NECESSARY

    TY 2021 GeneralExplanationAttachment
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Identifier Return Reference Explanation
    FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT PRI RECIPIENT: SUSTAIN INITIATIVE , LLC DATE OF PRI: 12/10/2019 PURPOSE OF PRI: TO SUPPORT SOCIAL IMPACT ORGANIZATIONS IN DEVELOPING LONG-TERM FINANCIAL SUSTAINABILITY AND THEREBY INCREASE THEIR SOCIAL IMPACT. REPORTS OF AMOUNTS EXPENDED: RECIPIENT HAS SUBMITTED A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT FOR ITS FISCAL YEAR INDICATED BELOW: DATES OF REPORTS: 01/08/2021 FOR FYE 12/31/2019 01/04/2022 FOR FYE 12/31/2020 THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 12/31/2021. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE.
    FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT PRI RECIPIENT: MISSION HILLS DEVELOPMENT LLC DATE OF PRI: 08/25/2021 PURPOSE OF PRI: to support the development of Mission Hills, a residential neighborhood designed to create an inclusive housing environment, including housing solutions for individuals with intellectual and developmental disabilities. REPORTS OF AMOUNTS EXPENDED: RECIPIENT IS EXPECTED IN 2022 TO SUBMIT A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 12/31/2021. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE.
    FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT FORM 990PF, PART VI-B, LINE 5D-EXPENDITURE RESPONSIBILITY STATEMENT PRI RECIPIENT: SUTHERLAND IMPACT FUND LP DATE OF PRI: 12/13/2021 PURPOSE OF PRI: TO SUPPORT THE development of inclusive housing solutions for individuals with intellectual and developmental disabilities, THE underserved women to establish and grow income producing businesses, the development and dissemination of literary and artistic works, THE assistANCE OF low-to-moderate income renters to build assets through housing solutions, AND nonprofit organizations to achieve sustainable operating models. REPORTS OF AMOUNTS EXPENDED: RECIPIENT IS EXPECTED IN 2022 TO SUBMIT A FULL AND COMPLETE FINANCIAL REPORT OF THE TYPE ORDINARILY REQUIRED BY COMMERCIAL INVESTORS UNDER SIMILAR CIRCUMSTANCES AND A STATEMENT THAT IT HAS COMPLIED WITH THE TERMS OF THE INVESTMENT. THIS INVESTMENT REMAINED ON THE FOUNDATION'S BOOKS AS OF 12/31/2021. DIVERSIONS: TO THE KNOWLEDGE OF THE GRANTOR, NO FUNDS HAVE BEEN DIVERTED TO ANY ACTIVITY OTHER THAN THE ACTIVITY FOR WHICH THE INVESTMENT WAS ORIGINALLY MADE.
    FORM 990PF, PART 1 LINE 6A RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PA TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $2,905,633 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $100,360 TOTAL PART I, LINE 6A: $3,005,993 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $8,407,279 BOOK BASIS: $6,730,838 NET GAIN/(LOSS): $1,676,441 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $1,239,807 SALES OF OTHER ITEMIZED ASSETS GROSS SALES PRICE: $1,279,344 BOOK BASIS: $1,289,959 NET GAIN/(LOSS): $(10,615)
    FORM 8865 FORM 8865 The Foundation has prepared this form to the best of its ability based on the limited information provided to it by the investment on which the Foundation is reporting and on the basis of having received no information to the contrary. Any missing or incomplete information is due to the Foundation's inability to obtain such information and is not a willful attempt to withhold such information.
    Form 990-PF FORM 990PF One or more partnerships have provided a Schedule K-3 for the tax year in which they have checked one or more of the boxes in Part I but not provided sufficient back-up information to allow the Foundation to verify why such boxes were checked or the extent to which the checking of such boxes affects any item on this return. The Foundation has prepared this return to the best of its ability and without any foreign filings for such partnerships based on the information provided to it by these partnerships and on the basis of having received no information to the contrary. Any missing or incomplete information is due to the Foundation's inability to obtain such information and is not a willful attempt to withhold such information.

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ALLY FINL INC BOND PERPETUAL - 14,079 14,525
    ALLY FINL INC BOND PERPETUAL - 27,364 27,832
    BANK NEW YORK MELLONCORP BOND 6,123 6,401
    BOEING CO NOTE - 4.508% - 05/0 33,175 34,394
    BP CAP MKTS P L C NOTE PERPETU 42,981 43,972
    CAPITAL ONE FINL CORP NOTE - 2 10,012 10,217
    CITIGROUP INC BOND PERPETUAL - 11,033 11,083
    CITIGROUP INC BOND PERPETUAL - 5,732 7,071
    CITIZENS FINANCIAL GROUP INC - 22,000 24,063
    DOMINION ENERGY INC BOND PERPE 6,000 6,015
    EDISON INTL BOND PERPETUAL - 5 23,089 24,095
    ENERGY TRANSFER PRTNRS LP - 3. 6,523 7,200
    FIFTH THIRD BANCORP BOND PERPE 10,000 10,588
    FS KKR CAPITAL CORP NOTE CALL 13,951 13,825
    OAKTREE SPECIALTY LENDING CORP 6,877 7,296
    REGIONS FINANCIAL CORP - 5.750 22,312 24,090
    SCHWAB CHARLES CORP BOND PERPE 32,299 33,820
    SEMPRA ENERGY BOND PERPETUAL - 46,453 49,255
    TRUIST FINL CORP BOND PERPETUA 9,000 10,058
    WELLS FARGO &CO BOND PERPETUAL 8,000 8,220

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Name of Stock End of Year Book Value End of Year Fair Market Value
    ABB LTD 51,462 52,484
    ABBOTT LABS 20,954 26,037
    ABBVIE INC 12,808 17,602
    ACCENTURE PLC 9,061 21,971
    ACI WORLDWIDE INC 5,976 7,634
    ACM RESEARCH INC 15,581 14,922
    ACUSHNET HOLDINGS CORP 12,117 24,045
    ADAPTEC, INC 4,074 3,788
    ADIDAS AG 11,703 11,952
    ADOBE SYSTEMS, INC 14,712 23,249
    ADVANCED ENERGY IND INC 10,482 17,575
    ADVANCED MEDICAL OPTICS 15,343 11,326
    AGCO CP 14,437 28,541
    AGNCP 23,810 26,296
    AGREE REALTY CORP 15,344 17,055
    AIA GROUP LTD ADR 54,130 53,585
    AIRBUS GROUP 38,945 40,653
    AKAMAI TECH COM STK 28,258 32,069
    ALBANY INTERNATIONAL CORP 9,270 14,417
    ALCON INC 7,919 11,935
    ALIBABA GROUP HOLDING LTD 112,558 57,732
    ALLETE INC 13,904 14,862
    ALPHABET INC CL A 44,032 86,911
    AMAZON COM 79,723 126,704
    AMDOCS LIMITED 19,064 21,853
    AMERICA MOVIL SA 15,516 15,875
    AMERICAN CAPITAL AGENCY CORP 9,828 10,002
    AMERICAN EAGLES OUTFITTERS INC 15,822 14,508
    AMERICAN ELECTRIC POWER INC 10,107 10,854
    AMERICAN EXPRESS CO 5,897 15,542
    AMERICAN TOWER REIT INC 13,686 16,380
    AMERIPRISE FINANCIAL INC 21,460 47,662
    AMERISOURCEBERGEN CORP 9,628 15,947
    AMGEN INC 26,395 25,422
    AMICUS THERAPEUTICS INC 25,455 19,693
    AMN HEALTHCARE SERVICES INC 13,829 16,515
    AMSOUTH BANCORPORATION 15,091 14,355
    ANALOG DEVICES INC 28,600 30,936
    ANGLO AM PLC ADR 20,382 20,374
    ANHEUSER BUSCH COS INC 31,339 31,607
    ANNALY CAPITAL MANAGEMENT PFD 18,996 21,667
    AON PLC CL A 18,620 18,935
    APPLE INC 44,018 69,785
    APPLIED IDNS TECH 8,578 10,065
    APPLIED MATERIALS INC 17,634 22,502
    APTIV PLC 9,683 24,248
    ARROWHEAD PHARMACEUTICALS INC 7,303 24,730
    ASAHI KAISAI CP ADR 19,748 19,598
    ASE TECHNOLOGY HOLDINGS CO LTD 22,151 26,304
    ASGN INC 15,493 15,055
    ASHTEAD GROUP PLC 4,896 17,097
    ASM PACIFIC TECH 15,679 12,083
    ASML HOLDING NV NY REG SHS 86,948 118,624
    ASSA ABLOY UNSP/ADR 11,872 12,170
    ASSOCIATED BRITISH FOODS PLC 13,640 13,950
    ASSURED GUARANTY LTD 9,296 14,658
    ASTRAZENECA 82,244 83,414
    AT&T 5.625% 08/01/2067 2,633 2,690
    AT&T, INC 26,520 22,878
    ATLASSIAN CORP PLC 15,892 16,014
    ATRICURE, INC. 13,476 19,538
    AUTOMATIC DATA PROCESSING INC 18,293 22,932
    AVERY DENNISON CORP 9,468 19,924
    AVIENT 13,762 15,610
    AXA ADS 21,437 22,953
    B&M EUROPEAN VALUE RETAIL SA A 25,206 25,152
    BAC CAPITAL TR X - 6.250% - 03 8,249 8,127
    BAIDU.COM - ADR 15,456 15,028
    BANCO BILBAO ARG SA 22,325 22,787
    BANK OZK 10,610 26,057
    BARRICK GOLD CORPORATION 32,807 31,236
    BAUSCH HEALTH COS INC 20,846 32,000
    BEIGENE LTD 23,429 23,571
    BIO RAD LABS INC CL A 8,224 21,912
    BIOHAVEN PHARMACEUTICAL HOLDIN 5,805 19,569
    BLACKLINE INC 12,017 16,359
    BLACKROCK CORPORATE HIGH YIELD 21,050 26,519
    BLACKROCK CREDIT ALLOCATION IN 4,643 5,162
    BLACKROCK INC 17,183 27,467
    BLACKROCK LTD DUR IN 4,116 4,246
    BLACKROCK MUNIHOLDINGS FUND IN 3,785 3,838
    BLACKROCK MUNIVEST FUND 8,711 9,924
    BLACKROCK MUNIYIELD QUALITY FU 15,507 17,176
    BNP PARIBAS SPONS ADR 18,011 18,543
    BOOKING HOLDINGS INC 13,322 14,395
    BOSTON SCIENTIFIC 17,581 18,819
    BRITISH AMERICAN TOBACCO PLC 41,036 40,927
    BROADCOM INC 25,797 33,271
    BROOKFIELD RESIDENTIAL PROPERT 17,687 15,347
    BRUNSWICK CORP 11,622 25,485
    CABLE ONE INC 27,755 24,688
    CADENCE DESIGN SYSTEMS INC 18,669 26,462
    CALRSBERG AS SP ADR REP B 61,112 71,940
    CAMDEN PPTY TR 7,937 12,150
    CANADIAN PACIFIC RAILWAY LTD 9,024 8,849
    CATHAY GENERAL BANCORP 7,839 13,800
    CHAMPIONX CORP 11,212 20,109
    CHARLES SCHWAB CORP 6,931 17,661
    CHEMICAL AND MINING CO OF CHIL 19,405 15,280
    CHINA MERCHANTS BANK 14,994 23,955
    CHUBB LIMITED 19,079 29,190
    CHUNGHWA TELECOM 26,882 30,729
    CIENA CORP 7,247 10,930
    CISCO SYSTEMS INC 34,812 55,449
    COHEN AND STEERS LIMITED DURAT 10,572 10,857
    COMCAST CORP 26,435 33,822
    COMFORT SYSTEMS USA INC 3,463 7,322
    COMPAGNIE FINANCIERE RICHEMONT 31,987 32,800
    CONMED CORPORATION 12,555 23,532
    COSTCO WHOLESALE CORPORATION 20,635 40,307
    COTERRA ENERGY INC 14,249 29,583
    COUSINS PROPERTIES INC 4,906 5,196
    CRANE CO 8,048 13,428
    CREDICORP LTD 22,922 15,869
    CULLEN FROST BANKERS INC 7,637 13,994
    DAIICHI SANKYO CO LTD SPONSORE 12,322 12,449
    DAIKIN INDS LTD ADR 13,390 13,528
    DANAHER CORP 6,791 14,147
    DBS GROUP HLDGS SPON ADR 27,180 30,766
    DEBT STRATEGY FUND 4,442 4,949
    DECKERS OUTDOOR CORPORATION 26,956 29,671
    DENTSPLY SIRONA INC 4,776 5,077
    DEUTSCHE BOERSE ADR 10,467 10,846
    DIAGEO PLC ADS 39,455 51,953
    DIAMONDBACK ENERGY INC 4,215 14,560
    DICK'S SPORTING GDS 7,294 19,433
    DISCOVER FINL SVCS COM 18,922 18,952
    DISCOVERY INC (FORMERLY DISC C 13,253 10,694
    DNB BANK ASA 17,449 17,603
    DOLBY LABORATORIES 12,876 17,806
    DOLLAR GENERAL CORP 12,932 16,272
    DOLLAR TREE INC 20,592 29,509
    DONALDSON CO. INC 7,323 8,770
    DSV UNSP ADR EACH REPR 0.5 ORD 20,858 21,715
    DUKE ENERGY DRC 10,770 10,944
    EAST WEST BANCORP, INC 8,193 25,099
    EASTGROUP PROPERTIES INC 12,058 23,013
    EATON VANCE LIMITED DURATION I 1,594 1,886
    EATON VANCE MUNICIPAL BOND FUN 15,996 16,676
    ECOLAB INC 13,793 21,113
    ELECTRONIC ARTS 10,537 13,454
    ELI LILLY & CO 6,760 12,982
    EMCOR GROUP INC 11,716 22,675
    EMPIRE STATE REALTY TRUST 9,345 10,938
    ENEL SOCIETA PER AZI 40,608 41,607
    ENERGIZER HOLDINGS INC 10,459 10,707
    ENGIE 33,378 33,477
    ENPRO INDUSTRIES INC 5,535 9,356
    ENTERGY LA LLC PFD - 4.875% - 6,340 6,502
    EOG RESOURCES INC 24,605 27,804
    EPIROC AB 23,798 24,423
    EQUINOR ASA 14,292 21,064
    ERSTE GROUP BANK AG 8,727 17,115
    ESSILOR INTL ADR 49,431 50,675
    ESTEE LAUDER COMPANIES INC 5,956 11,846
    EXELIXIS, INC. 21,211 18,938
    EXELON CORPORATION 9,605 14,440
    EXLSERVICE HOLDINGS INC 5,974 16,214
    EXXON MOBIL CORP 5,223 7,037
    FABRINET INC 14,234 30,447
    FEDERAL AGRICULTURAL MORTGAGE 5,093 10,038
    FIDELITY NATIONAL FINANCIAL IN 14,655 24,942
    FIDELITY NATIONAL INFORMATION 23,988 19,320
    FIRST TRUST HIGH INCOME LONG S 4,806 5,004
    FIRST TRUST INTERMEDIATE DURAT 5,763 6,380
    FLUTTER ENTMT PLC ADR 7,696 7,807
    FOUR CORNERS PROPERTY TRUST IN 6,598 9,617
    FULLER H B CO 4,400 8,343
    GDS HOLDINGS LTD 15,345 12,828
    GEN DYNAMICS CP 12,988 21,889
    GENMAB A/S SPON 44,068 50,439
    GIVAUDAN SA UNSP/ADR 41,604 42,174
    GLOBAL PAYMENTS INC 14,012 14,870
    GLOBE LIFE INC 15,057 19,962
    GROUPE DANONE ADS 11,664 9,379
    GRUPO FIN ADR 14,876 14,969
    GSK PLC 26,004 31,002
    GUARDANT HEALTH INC 6,798 10,302
    H LUNDBECK A/S UNSPON ADR 7,269 5,330
    HAMILTON LANE INC 12,905 14,818
    HARTFORD FINANCIALSERVICES GRO 10,233 18,296
    HARTFORD FINL SVCS GRP PFD - 7 3,294 3,283
    HASBRO INC 7,589 10,789
    HDFC BANK LTD ADR 77,900 79,971
    HERMES INTL 10 ADR 35,861 35,984
    HESS CORP 10,116 14,140
    HOLLYFRONTIER CORP 7,675 8,359
    HOME DEPOT INC 28,255 49,801
    HONDA MOTOR CO LTD 8,310 8,165
    HONEYWELL INTL 8,704 12,719
    HONG KONG EX&CL UNSP/ADR 41,088 53,740
    HOULIHAN LOKEY INC 17,840 15,528
    HOYA CORP SPONS ADR 17,878 26,623
    HUBBELL INCORPORATED 9,343 14,787
    HUNTINGTON INGALLS INDUSTRIES 8,280 8,964
    HUNTSMAN CORP 7,385 16,812
    HUTCHINSON CHINA MEDITECH LTD 13,527 13,541
    HYATT HOTELS CORP 20,912 32,031
    IBERDROLA ADR 27,369 28,515
    ICICI BK LTD ADS 47,364 62,972
    IDACORP INC HLDG CO 11,542 13,031
    INARI MEDICAL INC 12,794 16,520
    INDUSTRIA DE DISENO 29,919 30,680
    INFOSYS TECH LTD SPD ADR 25,824 63,275
    ING GROUP N V SPONSORED ADR 11,541 11,679
    INGERSOLL-RAND INC 11,361 22,644
    INGREDION INC 30,117 37,206
    INSPERITY INC 10,205 19,724
    INTERCONTINENTAL EXCHANGE, INC 11,360 16,002
    INTERPUBLIC GROUP OF COS 3,949 8,501
    INVESCO MUNICIPAL OPPORTUNITY 16,887 19,389
    INVESCO MUNICIPAL TRUST 10,169 11,348
    INVESCO SENIOR INCOME TRUST 21,759 23,053
    INVESCO TRUST FOR INVESTMENT G 6,024 6,887
    IRADIMED CORP 2,775 5,499
    IRHYTHM TECHNOLOGIES INC 21,929 33,071
    ISHARES SHORT MATURITY BOND ET 32,400 32,268
    ITT INC 7,812 15,737
    JAMES RIVER GROUP HOLDINGS LTD 7,899 6,367
    JARDINE MATHESON UNS/ADR 11,649 11,500
    JD.COM, INC 39,701 39,590
    JERONIMO MARTINS 21,116 26,765
    JOHNSON & JOHNSON 48,530 61,414
    JP MORGAN CHASE 25,751 37,529
    JPMORGAN CHASE 4.625% PFD SER 3,824 3,995
    KBC GROUP SA/NV SHS 9,341 12,342
    KE HOLDINGS INC. 7,990 8,028
    KERING UNSPON ADR EA REPR 0.1 51,911 51,285
    KEYENCE CORPORATION,FIRST SECT 81,980 81,254
    KEYSIGHT TECHNOLOGIES INC 3,777 7,228
    KINSALE CAPITAL GROUP INC 5,066 5,709
    KNORR BREMSE AG EUR 20,354 16,243
    KON KPN NV SPON ADR REP 1 ORD 12,042 12,170
    KONINKLIJKE PHILIPS ELECTRONIC 25,594 22,736
    KROGER CO 8,707 14,936
    L'AIR LIQUIDE ADR OTC 21,419 22,456
    L'OREAL ADR 52,781 53,244
    LABORATORY CORP AMER HLDGS 6,573 10,683
    LAIDLAW INTL 20,515 20,416
    LAM RESEARCH CORP 15,225 19,417
    LCI INDUSTRIES 10,468 23,069
    LEIDOS HOLDINGS INC 6,725 6,668
    LHC GROUP 8,757 11,802
    LINCOLN ELECTRIC HOLDING INC 8,254 15,063
    LINDE PLC COM 32,897 64,090
    LITHIA MOTORS INC CL A 27,943 27,319
    LITTELFUSE, INC 9,104 20,140
    LOCKHEED MARTIN CORP 22,221 21,325
    LONDON STK EXCHANGE GROUP 47,360 46,001
    LONGFOR PROPERTIES UNSP ADR 23,294 20,765
    LOWES COMPANIES INC 14,552 28,174
    LUCENT TECHNOLOGIES INC COM 22,403 14,002
    LVMH MOET HENN UNSP 18,239 26,977
    M.D.C. HLDGS 11,165 11,166
    MAKEMYTRIP LIMITED 17,254 16,848
    MANTECH INTERNATIONAL CORP 3,164 3,209
    MARSH AND MCLENNAN COMPANIES I 21,922 41,195
    MATERION CORP 11,409 15,078
    MCDONALD'S CORP 22,274 34,849
    MCKESSON CORP 10,305 17,400
    MEDICAL PROPERTIES TRUST, INC 12,327 15,998
    MEDPACE HOLDINGS, INC 15,292 14,582
    MEDTRONIC PLC 36,267 38,690
    MEITUAN DIANPING UNSPONSORED A 28,448 27,633
    MERCADOLIBRE, INC 27,718 29,665
    MESA LABORATORIES 6,028 6,562
    META PLATFORMS INC 40,316 68,952
    METSO OUTOTEC CORP 11,627 11,726
    MICHELIN SCA 14,780 15,700
    MICRON TECHNOLOGY 24,015 39,309
    MICROSOFT CORP 135,954 275,445
    MIRATI THERAPEUTICS INC 3,812 5,574
    MKS INSTRUMENTS, INC 14,435 28,216
    MOHAWK INDS INC 10,529 22,773
    MONOLITHIC POWER SYSTEMS, INC 8,034 13,320
    MONTROSE ENVIRONMENTAL GRP ORD 10,645 20,941
    MORGAN STANLEY 18,408 17,669
    MSA SAFETY INCORPORATED 15,720 23,248
    MURATA MFG INC UNSP/ADR 14,515 14,364
    NASPERS LTD N SPONS ADR 9,906 9,889
    NATIONAL RURAL UTIL - 5.50% - 12,396 12,881
    NATL FUEL GAS CO 7,309 10,934
    NATURA & CO HOLDING AMERICAN D 16,458 6,665
    NESTLE S.A 45,529 55,025
    NETEASE.COM INC COM STK 30,927 40,610
    NETWORK INTERNATIONAL HOLDINGS 17,505 15,103
    NEW YORK TIMES CO CL A 17,019 24,053
    NEXTERA ENERGY, INC 8,687 13,631
    NICE SYSTEMS LTD 13,004 13,055
    NIDEC CORPORATION ADR 14,560 22,133
    NIKE INC-CL B 12,139 13,834
    NINTENDO CO LTD ADR UNSPON 5,495 8,872
    NIPPON TELEGRAPH & TELEPHONE C 6,235 6,880
    NISOURCE INC 10,756 11,734
    NOKIA 14,139 14,505
    NORDSON CP 9,383 16,848
    NOTORI HOLDINGS 20,293 18,991
    NOVARTIS AG ADR 15,710 16,007
    NOVO NORDISK A S 74,469 91,168
    NOVOCURE LTD 5,669 9,460
    NUVEEN AMT FREE QUALITY MUNICI 32,306 35,974
    NUVEEN CREDIT STRATEGIES INCOM 16,961 15,978
    NUVEEN DIVIDEND ADVANTAGE MUNI 32,486 37,021
    NUVEEN MLT STR I&G 14,996 16,250
    NUVEEN QUALITY PREFERRED INC F 10,907 11,382
    NVENT ELECTRIC PLC 7,264 15,846
    NXP SEMICONDUCTORS 7,079 17,311
    O'REILLY AUTOMOTIVE INC 14,522 25,424
    OGE ENERGY CORP 8,282 9,979
    OIL CO LUKOIL PJSC SPON ADR RE 43,815 41,128
    OJSC POLYUS GOLD ADR 12,857 11,074
    OKTA INC 8,291 8,070
    ORGANON & CO 5,651 4,994
    ORSTED A S 12,129 12,221
    OUTSET MED INC 11,336 11,154
    PACKAGING CORP AMER 7,003 11,028
    PAGSEGURO DIGITAL LTD. 15,375 10,672
    PAPA JOHNS INTL INC 7,234 10,945
    PARKER HANNIFIN CP 16,083 22,905
    PERNOD RICARD S A SPONSORED AD 15,031 21,622
    PHIBRO ANIMAL HEALTH CORP 3,619 3,145
    PHILLIPS 66 14,625 16,014
    PING AN INSURANCE GROUP ADR 41,187 27,117
    PINNACLE FINANCIAL PARTNERS IN 17,749 16,808
    PNC FINANCIAL GROUP INC 8,349 15,039
    POWER INTEGRATIONS, INC 6,428 17,278
    PPG INDUSTRIES INC 5,057 9,312
    PPL CORPORATION 11,267 13,377
    PROCTER GAMBLE CO 28,011 42,531
    PRYSMIAN SPA 7,163 11,556
    PT BANK CENTRAL ASIA TBK 17,294 18,515
    PT BK MANDIR PRS UNSP/ADR 14,784 16,114
    PUBMATIC, INC 21,866 20,055
    RAYMOND JAMES FINANCIAL INC 10,940 19,076
    RAYTHEON TECHNOLOGIES CORP 37,420 45,182
    RECKITT BENCKISER GROUP 30,872 31,185
    RECRUIT HOLDINGS CO 24,965 25,724
    REGAL REXNORD CORP 23,307 31,313
    RELX PLC 39,462 40,632
    RENAISSANCERE HOLDINGS LTD 17,782 19,304
    REPLIGEN CORP 6,444 25,425
    REPUBLIC SVCS INC 12,631 20,778
    RIO TINTO PLC SPONSORED ADR 8,114 8,234
    RITCHIE BROS AUCTIONEERS 12,128 10,038
    RIVIAN AUTOMOTIVE INC CL A 7,268 7,569
    ROCKWELL AUTOMATION INC 17,614 30,699
    RPM INTERNATIONAL INC 13,356 18,786
    S&P GLOBAL INC COM 9,851 12,270
    SAFRAN SA - UNSPON ADR 41,921 43,958
    SAGE GROUP PLC 12,482 18,340
    SALESFORCE.COM 33,334 39,898
    SANDY SPRING BANCORP INC 17,730 16,876
    SANOFI-AVENTIS SPONSORED ADR 17,330 17,886
    SAP AKTIENGESELL ADS 39,279 40,772
    SBERBANK SPONSORED ADR 17,924 18,459
    SELECT MEDICAL 11,062 8,996
    SEMTECH CORPORATION 7,669 15,652
    SERVISFIRST BANCSHARES INC 7,559 19,876
    SHERWIN-WILLIAMS CO 10,715 20,777
    SHIN-ETSU CHEMICAL C 40,599 40,641
    SHINHAN FINL GROUP CO LTD 32,082 30,230
    SHIONOGI & CO LTD 31,862 31,400
    SHOALS TECHNOLOGIES GROUP 9,919 7,800
    SHOCKWAVE MEDICAL ORD SHS 13,896 22,648
    SHUTTERSTOCK INC 20,835 22,176
    SK TELECOM ADS ADS 31,709 24,136
    SMC CORP 43,141 43,440
    SMITH A O CORP DEL COM 17,504 26,098
    SNAP ON INC 9,217 15,292
    SNOWFLAKE INC 18,032 21,003
    SOCIETE GENERALE SA 13,931 17,927
    SOFTBANK CP UNSP ADR 16,526 14,310
    SONY GROUP CORP 13,316 29,578
    SOUTHWEST AIRLINES 5,242 6,897
    SPECTRIS PLC 9,534 14,731
    SPRINGWORKS THERAPEUTICS INC 17,549 14,813
    SPX CORPORATION 6,282 7,520
    STARBUCKS CORP COM 20,211 21,289
    STEPSTONE GROUP ORD SHS CLASS 18,585 14,674
    STERIS PLC 8,744 13,144
    STIFEL FINL CORP SER B 5.200% 5,997 6,285
    STMICROELECTRONICS 35,383 35,731
    STORE CAPITAL CORPORATION 7,958 15,033
    STRAUMANN HLDG 34,205 35,424
    SWEETGREEN INC CL A 12,862 9,472
    T. ROWE PRICE GROUP 10,198 20,647
    TAIWAN SEMICONDUCTOR MFG CO LT 121,247 234,363
    TAKEDA PHARMACEUTICAL COMPANY 8,738 6,692
    TARGA RESOURCES CORP 5,335 13,948
    TECHNOPRO HOLDINGS 5 SPONSORED 6,220 10,485
    TELETECH HOLDINGS, INC 16,789 17,838
    TENCENT HOLDINGS LIMITED 140,533 139,219
    TERRENO RLTY CORPCOM 14,939 20,725
    TEXAS INSTRUMENTS INC 39,837 49,379
    TFI INTERNATIONAL 25,468 26,570
    THE COCA-COLA CO 28,756 35,644
    THERMO FISHER SCIENTIFIC INC 6,705 13,345
    THOUGHTWORKS HOLDING INC 7,236 7,266
    TIMKEN CO COM 9,923 12,264
    TJX COMPANIES INC 39,722 56,181
    TOKYO ELECTRON LTD 17,698 18,275
    TOPBUILD CORP 21,009 28,971
    TORREY PINES THERAPEUTICS 5,309 5,581
    TOTALENERGIES SE 33,890 36,501
    TRAVELERS COMPANIES INC 11,278 17,207
    TRIP COM GROUP ADR 14,353 11,695
    TRUIST FINANCIAL CORPORATION 35,160 46,664
    TRUMY 14,224 14,425
    TSINGTAO BREWERY CO LTD 19,560 23,503
    UMC ELECTRONICS CO COM 23,136 25,366
    UNICHARM CORP - SPN ADR 14,661 14,655
    UNILEVER PLC AMER 32,153 30,176
    UNION PACIFIC 37,670 50,890
    UNITED PARCEL SERVICE 31,186 44,797
    UNITEDHEALTH GROUP INC 49,947 75,823
    UNIVERSAL DISPLAY CORP 22,622 23,269
    US BANCORP 14,709 17,974
    USD CYRUSONE INC 3,582 4,845
    V F CORP 18,560 21,893
    VAIL RESORTS INC 8,325 14,100
    VALE SA 22,420 17,623
    VANGUARD FTSE DEVELOPED MARKET 8,190 8,170
    VERACYTE INC 6,765 15,986
    VERIZON COMMUNICATIONS 26,276 25,980
    VERTEX PHARMCTLS INC 15,497 17,129
    VIRTUS ALLIANZGI CONVERTIBLE & 8,020 8,318
    VISA INC 45,655 55,044
    VMWARE INC 14,331 11,472
    WAL-MART DE MEX V SP/ADR 19,760 24,548
    WALGREENS BOOTS ALLIANCE 12,345 16,691
    WASHINGTON TRUST BANCORP INC 4,964 7,328
    WD-40 COMPANY 4,321 4,893
    WELLS FARGO & CO 31,543 42,942
    WELLS FARGO ADVANTAGE INCOME O 8,899 11,816
    WESTERN ASSET HI YLD DEFINED 10,030 10,897
    WESTERN ASSET HIGH INCOME OPPO 13,235 15,543
    WESTERN DIGITAL CORP 7,219 11,868
    WILEY JOHN & SONS INC CL A 2,487 4,066
    WILLIAMS COS 14,130 19,530
    XILINX INC 8,412 13,146
    XP INC CL A 12,968 9,944
    YANDEX N V 19,790 24,926
    YUM CHINA HOLDINGS INC 30,847 27,113
    ZENTALIS PHARMACEUTICALS INC. 10,718 11,937
    ZURN WATER SOLUTIONS 12,231 18,710

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    US Government Securities - End of Year Book Value:

    361,557
    US Government Securities - End of Year Fair Market Value:

    357,552
    State & Local Government Securities - End of Year Book Value:


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


     


    TY 2021 InvestmentsOtherSchedule2
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ALKEON GROWTH OFFSHORE FUND II   750,000 634,805
    BLACKSTONE PRIVATE CREDIT FUND   400,000 400,000
    GOOD RETURNS GROUP, INC   108,315 145,315
    HEADLANDS CPTL SECONDARY FD II   575,787 809,271
    JTL PRIVATE EQUITY FUND, L.P   1,335,673 651,919
    LUPTON HEDGE FUND PARTNERSHIP   11,104,589 12,565,074
    LUPTON INTERNATIONAL EQUITY PA   812,063 885,949
    LUPTON PRIVATE EQUITY FUND 201   1,220,661 1,622,511
    LUPTON PRIVATE EQUITY FUND 202   16,964 16,971
    LUPTON VENTURE CAPITAL FUND 20   289,405 346,957
    OAKTREE REAL ESTATE INCOME TRU   1,249,437 1,518,055
    PORTFOLIO ADV PVT EQT FUND 201   75,356 207,336

    TY 2021 OtherAssetsSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PRI - DEEP VELLUM PUBLISHING   250,000 250,000
    PRI - MISSION HILLS DEVELOPMEN   200,000 200,000
    PRI - SUTHERLAND IMPACT FUND   250,000 250,000
    PRI - SUSTAIN INITIATIVE   250,000 250,000


    TY 2021 OtherExpensesSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Administrative Fees 41,380     41,380
    Bank Charges 5,379 5,379    
    Equipment Maintenance 170     170
    Equipment/Furniture Purchase 1,545     1,545
    Foundation Dues & Memberships 1,019     1,019
    In Kind Grant Expense 1,071     1,071
    D&O INSURANCE 2,140     2,140
    K-1 Exp BLUE MARLIN TALF 19,370 19,370    
    K-1 Exp HEADLANDS CPTL SECONDA 19,883 16,988    
    K-1 Exp JTL PRIVATE EQUITY FUN 17,129 11,677    
    K-1 Exp LUPTON HEDGE FUND PART 215,377 170,123    
    K-1 Exp LUPTON INTERNATIONAL E 11,786 11,399    
    K-1 Exp LUPTON PRIVATE EQUITY 33,216 30,536    
    K-1 Exp LUPTON PRIVATE EQUITY 17 17    
    K-1 Exp LUPTON VENTURE CAPITAL 11,385 11,385    
    Office Supplies 2,260     2,260
    State or Local Filing Fees 20     20
    Website Hosting/Support 322     322


    TY 2021 OtherIncomeSchedule2
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    K-1 Inc/Loss BLUE MARLIN TALF 39,206 39,206  
    K-1 Inc/Loss ENERGY TFR OPERATING LP - SER E 333 333  
    K-1 Inc/Loss ENERGY TRANSFER LP SER E 202 202  
    K-1 Inc/Loss HEADLANDS CPTL SECONDARY FD III LP (S 7,848 7,831  
    K-1 Inc/Loss JTL PRIVATE EQUITY FUND, L.P 18,287 8,086  
    K-1 Inc/Loss LUPTON HEDGE FUND PARTNERSHIP LP 575,600 473,208  
    K-1 Inc/Loss LUPTON INTERNATIONAL EQUITY PARTNERSH 28,610 28,610  
    K-1 Inc/Loss LUPTON PRIVATE EQUITY FUND 2019, GP 15,322 17,203  
    K-1 Inc/Loss LUPTON VENTURE CAPITAL FUND 2021 GP 49 -835  
    Federal Tax Refund 7,936    


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

    TY 2021 OtherNotesLoansRcvblLongSch
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167

    Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
    GOOD RETURNS GROUP INC   50,000 50,000 2021-10 2022-10 CONVERTIBLE PROMISSORY NOTE 200 % STOCK INVESTMENT CASH 50,000

    TY 2021 OtherProfessionalFeesSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    Investment Management Services 108,053 108,053    


    TY 2021 ReasonableCauseExplanation
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    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).

    TY 2021 TaxesSchedule
    Name:
    Sapphire Foundation Inc
    EIN:
    30-0674167
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    990-PF Estimated Tax for 2021 30,300      
    990-T Extension for 2020 30,700      
    990-T Income Tax for 2020 28,770      
    Foreign Tax Paid 15,679 15,679    
    STATE INCOME TAX FOR 2020 12,970