TY 2021 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2021

Open to Public Inspection

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

Name of foundation
WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

% TODD GORELICK

Number and street (or P.O. box number if mail is not delivered to street address)6836 Carnegie BLVD STE 300
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
CHARLOTTE, NC28211

A Employer identification number

56-1743190

B Telephone number (see instructions)

(704) 442-1094

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$9,645,013J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments	19,152		19,152
4	Dividends and interest from securities...	75,817		75,817
5a	Gross rents............	154,796		154,796
b	Net rental income or (loss) 63,623
6a	Net gain or (loss) from sale of assets not on line 10		695,296
b	Gross sales price for all assets on line 6a 1,709,938
7	Capital gain net income (from Part IV, line 2)...			695,296
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		12,541	12,541
12	Total. Add lines 1 through 11........	957,602		957,602
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		5,254	5,254
c	Other professional fees (attach schedule)....		74,195	74,195
17	Interest...............	4,135		4,135
18	Taxes (attach schedule) (see instructions)...		1,323
19	Depreciation (attach schedule) and depletion...		38,390	38,412
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		53,135	53,135
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	176,432		175,131	0
25	Contributions, gifts, grants paid.......	489,448			489,448
26	Total expenses and disbursements. Add lines 24 and 25	665,880		175,131	489,448
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	291,722
b	Net investment income (if negative, enter -0-)			782,471
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	315,783	302,722	302,722
	2	Savings and temporary cash investments.........
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	6,771,862	8,299,525	8,299,525
	14	Land, buildings, and equipment: basis 918,944
		Less: accumulated depreciation (attach schedule) 195,443	1,181,007	723,501	723,501
	15	Other assets (describe )	52,178	319,265	319,265
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	8,320,830	9,645,013	9,645,013
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	8,320,830	9,645,013
	29	Total net assets or fund balances (see instructions).....	8,320,830	9,645,013
	30	Total liabilities and net assets/fund balances (see instructions).	8,320,830	9,645,013

Part III

Analysis of Changes in Net Assets or Fund Balances

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

8,320,830

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

291,722

Other increases not included in line 2 (itemize) bullet

1,032,461

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

9,645,013

Decreases not included in line 2 (itemize) bullet

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

9,645,013

Form 990-PF (2021)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(d) Date sold (mo., day, yr.)
1 a	CS 4702 - SEE STATEMENT B	P
b	CS 4702 - SEE STATEMENT B
c	CS 5041 - SEE STATEMENT C
d	CS 5041 - SEE STATEMENT C
e	GAIN ON REDEMPTION OF INVESTMENT IN SNOWPARK		2021-12-31
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	265,249	249,198	16,051
b	52,646	58,557	-5,911
c	18,220	17,404	816
d	153,123	93,250	59,873
e	1,836		1,836
			28,590
			28,590
			28,590
			28,590
			28,590

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			16,051
b			-5,911
c			816
d			59,873
e			1,836

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	695,296
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Form 990-PF (2021)

Page 4

Part V

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	10,876
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	10,876
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	7,157
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	15,000
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	22,157
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	11,281
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax11,281	Refunded	11

Part VI-A

Statements Regarding Activities

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

Yes

it participate or intervene in any political campaign? Click to see list of attachments

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes Click to see list of attachments

....

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

Yes

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

Yes

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

If "Yes," attach the statement required by General Instruction T. Click to see list of attachments

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

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

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

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

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

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

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

The books are in care of bullet

TODD GORELICK Telephone no. bullet

(704) 442-1094

Located at bullet

6836 CARNEGIE BLVD STE 300charlotteNC ZIP+4 bullet

28211

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

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

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

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

16 No

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

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2021)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals? .............

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
WILLIAM GORELICK	PRESIDENT 1.0	0	0	0
6836 Carnegie BLVD STE 300 CHARLOTTE,NC28211	PRESIDENT 1.0	0	0	0
TODD GORELICK	SECRETARY 5.0	0	0	0
6836 Carnegie BLVD STE 300 CHARLOTTE,NC28211	SECRETARY 5.0	0	0	0

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


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances










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

Form 990-PF (2021)

Page 7

Part VII

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

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation

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

Part VIII-A

Summary of Direct Charitable Activities

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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2021)

Page 8

Part IX

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

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

purposes:

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

8,754,167

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

141,437

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

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

8,895,604

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

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

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

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

8,895,604

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

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

133,434

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

8,762,170

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

438,109

Part X

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

and do not complete this part.)

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

438,109

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

10,876

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

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

10,876

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

427,233

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

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

427,233

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

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

427,233

Part XI

Qualifying Distributions (see instructions)

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

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

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7				427,233
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......			0
b Total for prior years:2019, 2018, 2017
3 Excess distributions carryover, if any, to 2021:
a From 2016......	139,941
b From 2017......	125,517
c From 2018......	178,001
d From 2019......	232,034
e From 2020......	175,009
f Total of lines 3a through e ........		850,502
4Qualifying distributions for 2021 from Part
XI, line 4: $ 489,448
a Applied to 2020, but not more than line 2a			0
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.....				427,233
e Remaining amount distributed out of corpus		62,215
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		912,717
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 .............			0
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........				0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...		139,941
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		772,776
10 Analysis of line 9:
a Excess from 2017....	125,517
b Excess from 2018....	178,001
c Excess from 2019....	232,034
d Excess from 2020....	175,009
e Excess from 2021....	62,215

Form 990-PF (2021)

Page 10

Part XIII

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

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

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

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

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

Part XIV

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

1Information Regarding Foundation Managers:

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

WILLIAM GORELICK

TODD GORELICK

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2021)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
See Statement A 5007 Providence Road Suite 101 Charlotte,NC28226	N/A	EOF	GENERAL CONTRIBUTION	489,448
Total ................................. 3a				489,448

bApproved for future payment

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

Form 990-PF (2021)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	19,152
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	63,623
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	695,296
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER ORDINARY INC			14	12,541
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				866,429

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

866,429

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2021)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2021 DepreciationSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
6838 NR BUILDING	2013-11-26	52,589	13,623	M27		1,912
3031 MF BUILDING	2013-11-26	70,256	18,205	M27	27	2,555
8509 IW BUILDING	2013-11-26	76,067	19,708	M27		2,766
4126 HH BUILDING	2013-12-23	61,136	15,654	M27		2,223
2809 ALBANY BLDG	2014-07-01	33,704	7,912	M27		1,225
2809 ALBANY IMPROV	2014-07-01	6,434	1,511	M27		234
2809 ALBANY IMPROV	2014-07-01	50,162	11,780	M27		1,824
7608 RAYWALD BLDG	2014-07-01	51,709	12,142	M27		78
7608 RAYWALD IMPRO	2014-07-01	28,449	6,678	M27		43
4339 BATHURST BLDG	2014-05-01	64,320	15,496	M27		2,339
4339 BATHURST IMPR	2014-05-01	15,731	3,790	M27		572
306 WESTOVER BLDG	2015-09-01	77,333	14,881	M27		2,226
306 WESTOVER IMPR	2015-09-01	14,358	2,762	M27		413
3611 KILEY BLDG	2015-01-01	69,837	15,129	M27		2,539
3611 KILEY IMPROV	2015-01-01	16,139	3,497	M27		587
6608 DUNCROFT BLDG	2015-01-01	50,429	10,927	M27		1,834
6608 DUNCROFT IMPR	2015-01-01	2,266	489	M27		82
6937 DELTA LAKE BL	2015-02-01	49,498	10,575	M27		1,800
6937 DELTA LAKE IM	2015-02-01	4,270	911	M27		155
2809 ALBANY IMPROV	2015-09-01	3,570	688	M27		130
4126 HH IMPROVE	2015-06-01	7,786	1,568	M27		283
4126 HH IMPROVE	2016-06-23	3,675	608	M27		134
6937 DELTA LAKE IM	2016-05-12	4,260	717	M27		155
4104 CANYON CREEK	2017-08-01	97,050	11,911	M27		1,911
9104 ST MICHAELS	2017-09-01	90,831	10,873	M27		3,303
4104 CANYON IMPROV	2018-07-24	1,400	125	M27		28
3941 FAR WEST BLDG	2018-07-13	118,226	10,570	M27		4,120
3941 FAR WEST IMPR	2018-07-13	6,535	585	M27		228
6838 NR IMPROV	2019-07-01	1,646	87	M27		60
3031 MF IMPROVE	2019-07-01	13,237	702	M27		481
8509 IW IMPROV	2019-06-01	21,714	1,218	M27		790
7608 RAYWALD IMPRO	2019-10-01	2,219	98	M27		3
306 WESTOVER IMPRO	2019-09-01	9,118	429	M27		262
4104 CANYON IMPROV	2019-06-01	6,766	379	M27		133
4104 CANYON IMPROV	2019-12-01	2,913	110	M27		57
8509 IW LAND	2013-09-05	12,243		L
6838 NR LAND	2013-06-14	5,560		L
3031 MF LAND	2013-08-23	12,166		L
4126 HH LAND	2013-10-21	14,462		L
2809 ALBANY LAND	2014-07-01	13,966		L
7608 RAYWALD LAND	2014-07-01	14,611		L
306 WESTOVER LAND	2015-09-01	11,268		L
6608 DUNCROFT LAND	2015-01-01	14,223		L
6937 DELTA LAND	2015-02-01	10,134		L
4104 CANYON LAND	2017-08-01	11,000		L
9104 ST M LAND	2017-09-01	18,000		L
3941 FAR WEST LAND	2018-07-13	28,248		L
3611 KILEY LAND	2015-01-01	14,859		L
4339 BATHURST LAND	2014-05-01	18,145		L
8509 IW APPLIANCES	2013-11-29	594	594	DDBA	5
7608 RAWALD IMPROV	2020-08-01	17,697	241	M27		27
7608 RAWALD APPL	2020-11-15	1,076	72	DDBA	5	17
4339 BATHURST IMPR	2020-08-01	2,924	40	M27		106
4339 BATHURST APPL	2020-07-17	1,780	297	DDBA	5	593
4126 HH IMPR	2021-09-15	4,180		M27		44
7608 RAWALD IMPR	2021-01-22	762		M27		0
4339 BATHURST IMPR	2021-05-13	4,345		M27		99
6937 DELTA IMPR	2021-09-15	1,806		M27		19
306 WESTOVER IMPR	2021-12-15	60,975		M27		0
306 WESTOVER APPL	2021-05-07	4,023		DDBA	5	0
4104 CANYON IMPR	2021-07-16	21,339		M27		0
4104 CANYON APPL	2021-05-07	915		DDBA	5	0
3941 FAR WEST IMPR	2021-12-15	14,425		M27		0

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
OTHER INVESTMENTS	FMV	5,682,843	5,682,843
CHARLES SCWAB	FMV	2,049,679	2,049,679
SHOREPATH	FMV	567,003	567,003

- TIN:

TY 2021 LandEtcSchedule2

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value
6838 NR BUILDING	52,589	15,535	37,054
3031 MF BUILDING	70,256	20,760	49,496
8509 IW BUILDING	76,067	22,474	53,593
4126 HH BUILDING	61,136	17,877	43,259
2809 ALBANY BLDG	33,704	9,137	24,567
2809 ALBANY IMPROV	6,434	1,745	4,689
2809 ALBANY IMPROV	50,162	13,604	36,558
7608 RAYWALD BLDG
7608 RAYWALD IMPRO
4339 BATHURST BLDG	64,320	17,835	46,485
4339 BATHURST IMPR	15,731	4,362	11,369
306 WESTOVER BLDG
306 WESTOVER IMPR
3611 KILEY BLDG	69,837	17,668	52,169
3611 KILEY IMPROV	16,139	4,084	12,055
6608 DUNCROFT BLDG	50,429	12,761	37,668
6608 DUNCROFT IMPR	2,266	571	1,695
6937 DELTA LAKE BL	49,498	12,375	37,123
6937 DELTA LAKE IM	4,270	1,066	3,204
2809 ALBANY IMPROV	3,570	818	2,752
4126 HH IMPROVE	7,786	1,851	5,935
4126 HH IMPROVE	3,675	742	2,933
6937 DELTA LAKE IM	4,260	872	3,388
4104 CANYON CREEK
9104 ST MICHAELS	90,831	14,176	76,655
4104 CANYON IMPROV
3941 FAR WEST BLDG
3941 FAR WEST IMPR
6838 NR IMPROV	1,646	147	1,499
3031 MF IMPROVE	13,237	1,183	12,054
8509 IW IMPROV	21,714	2,008	19,706
7608 RAYWALD IMPRO
306 WESTOVER IMPRO
4104 CANYON IMPROV
4104 CANYON IMPROV
8509 IW LAND	12,243		12,243
6838 NR LAND	5,560		5,560
3031 MF LAND	12,166		12,166
4126 HH LAND	14,462		14,462
2809 ALBANY LAND	13,966		13,966
7608 RAYWALD LAND
306 WESTOVER LAND
6608 DUNCROFT LAND	14,223		14,223
6937 DELTA LAND	10,134		10,134
4104 CANYON LAND
9104 ST M LAND	18,000		18,000
3941 FAR WEST LAND
3611 KILEY LAND	14,859		14,859
4339 BATHURST LAND	18,145		18,145
8509 IW APPLIANCES	594	594
7608 RAWALD IMPROV
7608 RAWALD APPL
4339 BATHURST IMPR	2,924	146	2,778
4339 BATHURST APPL	1,780	890	890
4126 HH IMPR	4,180	44	4,136
7608 RAWALD IMPR		0	0
4339 BATHURST IMPR	4,345	99	4,246
6937 DELTA IMPR	1,806	19	1,787
306 WESTOVER IMPR		0	0
306 WESTOVER APPL		0	0
4104 CANYON IMPR		0	0
4104 CANYON APPL		0	0
3941 FAR WEST IMPR		0	0

- TIN:

TY 2021 OtherAssetsSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
OTHER ASSETS	52,178	319,265	319,265

- TIN:

TY 2021 OtherExpensesSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Description	Revenue and Expenses per Books	Net Investment Income
RENTAL EXPENSES	52,783	52,783
BANK CHARGES	99	99
STATE TAXES PAID	250	250
TRAVELLER - OTHER	3	3

- TIN:

TY 2021 OtherIncomeSchedule2

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Description	Revenue And Expenses Per Books	Net Investment Income
Primary Wave Music IP Fund	2,953	2,953
Traveler Capital Partners II	9,836	9,836
Legacy Capital III	169	169
Primary Wave Music Prince Coinvest	-417	-417

- TIN:

TY 2021 OtherIncreasesSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Description	Amount
UNREALIZED GAINS	1,032,461

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
MANAGEMENT FEES	74,195

- TIN:

TY 2021 TaxesSchedule

Name:

WILLIAM & PATRICIA GORELICK FAMILY FOUNDATION

EIN:

56-1743190

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FOREIGN TAX	1,323