TY 2021 Form 990PF

- TIN:

Form990-PF
Click to see list of attachments

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 10-01-2021 , and ending 09-30-2022

Name of foundation
SEVEN BRIDGES FOUNDATION INC

Number and street (or P.O. box number if mail is not delivered to street address)114 JOHN STREET
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
GREENWICH, CT06831

A Employer identification number

06-1498953

B Telephone number (see instructions)

(203) 861-7527

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

$64,114,179J 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	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	220		220	220
4	Dividends and interest from securities...	175,387		175,387	175,387
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-2,674,219
b	Gross sales price for all assets on line 6a 15,404,255
7	Capital gain net income (from Part IV, line 2)...
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	-2,498,612		175,607	175,607
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......	167,887				167,887
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......		17,350	8,675	8,675	8,675
c	Other professional fees (attach schedule)....		85,925	85,400	85,400	525
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		31,813			31,813
19	Depreciation (attach schedule) and depletion...		376,093
20	Occupancy..............
21	Travel, conferences, and meetings.......	6,015				6,015
22	Printing and publications..........
23	Other expenses (attach schedule).......		452,899	17,525	17,525	435,374
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	1,137,982		111,600	111,600	650,289
25	Contributions, gifts, grants paid.......	0				0
26	Total expenses and disbursements. Add lines 24 and 25	1,137,982		111,600	111,600	650,289
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-3,636,594
b	Net investment income (if negative, enter -0-)			64,007
c	Adjusted net income (if negative, enter -0-)...				64,007

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	1,478,068	3,108,018	3,108,018
	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)..........	5,239,560	3,163,285	2,875,355
	14	Land, buildings, and equipment: basis 24,317,407
		Less: accumulated depreciation (attach schedule) 4,802,723	22,861,644	19,514,684	19,514,684
	15	Other assets (describe )	38,468,931	38,616,122	38,616,122
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	68,048,203	64,402,109	64,114,179
	17	Accounts payable and accrued expenses..........	9,500
	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).........	9,500	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........	17,210,649	17,210,649
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	50,828,054	47,191,460
	29	Total net assets or fund balances (see instructions).....	68,038,703	64,402,109
	30	Total liabilities and net assets/fund balances (see instructions).	68,048,203	64,402,109

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

68,038,703

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

-3,636,594

Other increases not included in line 2 (itemize) bullet

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

64,402,109

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 .

64,402,109

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	11,328 integry's energy group	P	2014-01-17	2021-10-28
b	BTIG - See Attached	P	2021-12-01	2021-12-01
c	Land-117 John St	P	2006-05-31	2022-03-18
d
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	311,520		279,235	32,285
b	12,392,735		14,655,450	-2,262,715
c	2,700,000	700,152	3,843,941	-443,789
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			32,285
b			-2,262,715
c			-443,789
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-2,674,219
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	-2,262,715

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	890
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	890
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	44,275
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	44,275
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	43,385
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax43,385	Refunded	11

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

Yes

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

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

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

WWW.SEVENBRIDGES.ORG

The books are in care of bullet

JAMIE DIMICELI Telephone no. bullet

(203) 861-7527

Located at bullet

114 JOHN STREETGREENWICHCT ZIP+4 bullet

06831

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
richard c mckenzie jr	President 15.00	0
118 john street greenwich,CT06831	President 15.00	0
james schantz	Director 0.50	0
3 elm street stockbridge,MA01262	Director 0.50	0
Karla Rosellen McKenzie	Director 15.00	0
1038 valle crest palm desert,CA92260	Director 15.00	0
Bryon W Harmon	Director 0.50	0
shipman one constitution plz hartford,CT06103	Director 0.50	0
stephen walker	Director 0.50	0
861 andreas canyon drive palm desert,CA92260	Director 0.50	0
john ryan	Director 0.50	0
115 central park west apt 24c new york,NY10023	Director 0.50	0
Jennifer McKenzie Glass	Director 0.50	0
3826 palo alto drive lafayette,CA94549	Director 0.50	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
jamie dimiceli	Bus. Manager 30.00	82,250
114 john street greenwich,CT06831	Bus. Manager 30.00	82,250
alicia castro	property manager 30.00	58,337
114 john street greenwich,CT06831	property manager 30.00	58,337






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
flaherty & crumrine	portfolio management	85,400
301 e colorado blvd suite 720 pasadena,CA91101	portfolio management	85,400
anne chiapetta	graphic designer	87,591
141 hoyt street darien,CT06820	graphic designer	87,591

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	collection of contemporary and modern works of art - new acquisitions and improvements	147,191
2	development, maintenance, operation and exhibition of collection in gallery and sculpture gardens, and acquisition, maintenance and improvement of grounds and program facilities	650,289
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...................

3,993,568

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

2,293,043

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

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

6,286,611

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

6,286,611

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

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

94,299

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

6,192,312

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

309,616

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

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

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

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

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

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

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

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

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

Part XI

Qualifying Distributions (see instructions)

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

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

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2020	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......
b Total for prior years:20, 20, 20
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: $
a Applied to 2020, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2021 distributable amount.....
e Remaining amount distributed out of corpus
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
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 ..........
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 ......
10 Analysis of line 9:
a Excess from 2017....
b Excess from 2018....
c Excess from 2019....
d Excess from 2020....
e Excess from 2021....

Form 990-PF (2021)

Page 10

Part XIII

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

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

1998-04-28

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
	64,007	302,223	385,233	361,326	1,112,789
b 85% (0.85) of line 2a .........	54,406	256,890	327,448	307,127	945,871
c Qualifying distributions from Part XI, line 4 for each year listed .....	650,289	1,044,343	870,255	881,411	3,446,298
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 ....	650,289	1,044,343	870,255	881,411	3,446,298
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 ..	206,411	240,875	274,697	298,503	1,020,486
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).)

richard c mckenzie jr

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

Total ................................. 3a

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	220
4 Dividends and interest from securities ....
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property
7 Other investment income .....
8 Gain or (loss) from sales of assets other than inventory ............			18	-2,674,219
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				-2,498,612

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

-2,498,612

(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:	21013475
Software Version:	2021v4.1

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2021 AccountingFeesSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
accounting FEES	17,350	8,675	8,675	8,675

- TIN:

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

TY 2021 DepreciationSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense
john st wall	2002-04-01	19,938	19,441	SL	2.50 %	497
waterfall	2002-08-21	4,025	3,836	SL	2.50 %	101
gallery lighting	2002-09-04	25,734	24,560	SL	2.50 %	643
carriage house	2002-04-01	46,556	45,396	SL	2.50 %	1,160
carriage house	2002-04-01	22,411	21,859	SL	2.50 %	552
john st wall	2003-04-01	32,439	30,007	SL	5.00 %	1,622
gallery improvements	2003-04-01	41,310	38,221	SL	5.00 %	2,066
property improvements	2003-04-01	30,409	28,120	SL	5.00 %	1,520
john st wall	2004-04-01	28,806	25,200	SL	5.00 %	1,440
Gallery Lighting	2004-04-01	47,450	41,527	SL	5.00 %	2,373
Bldg Impr. Gutters & Roof	2004-03-17	10,846	9,485	SL	5.00 %	542
Trellis Restoration	2004-03-09	17,215	15,139	SL	5.00 %	861
Bldg Impr. Kitchen	2004-07-14	22,437	19,354	SL	5.00 %	1,122
Wetlands Project	2004-04-01	111,409	97,475	SL	5.00 %	5,570
New drive gate	2005-03-01	4,594	3,814	SL	5.00 %	230
Gallery Lighting	2005-04-01	245,821	202,802	SL	5.00 %	12,291
Property Impr. Courtyard	2004-12-21	13,426	11,239	SL	5.00 %	671
Driveways	2004-12-21	64,024	53,617	SL	5.00 %	3,201
Stone walls/Pillars	2004-12-21	77,515	64,923	SL	5.00 %	3,876
Drainage & Sprinkler	2005-09-30	11,789	9,424	SL	5.00 %	589
Parking Area	2004-12-21	52,109	43,634	SL	5.00 %	2,605
Prprty Impr.-Wetlands	2004-11-10	7,182	6,073	SL	5.00 %	359
Bldg Impr.-Gallery Bldg	2005-07-01	59,073	48,002	SL	5.00 %	2,954
gallery imprvmnts-dimmers	2006-09-26	7,000	5,250	SL	5.00 %	350
Gallery Driveway	2005-11-22	22,000	17,417	SL	5.00 %	1,100
bldg. impr. drainline	2005-10-04	3,900	3,120	SL	5.00 %	195
bldg. impr. 117 John st	2006-05-31	349,190	267,720	SL	5.00 %	8,730
Building-117 John st	2006-05-31	530,552	406,763	SL	5.00 %	13,264
new boiler	2007-02-22	19,750	14,408	SL	5.00 %	988
stone walls	2007-03-01	63,735	46,477	SL	5.00 %	3,187
gates - gallery II	2007-03-01	65,959	48,096	SL	5.00 %	3,298
office lighting	2007-03-01	15,057	10,981	SL	5.00 %	753
roof & gutters at gllry I	2007-03-01	189,377	138,089	SL	5.00 %	9,469
stone walkways	2007-03-01	9,296	6,781	SL	5.00 %	465
turftrack parking area	2007-08-13	28,636	20,287	SL	5.00 %	1,432
irrigation system	2007-04-01	37,975	27,535	SL	5.00 %	1,899
carriage house imprvmnts	2007-04-01	13,871	10,063	SL	5.00 %	694
stone walls	2008-04-01	59,247	39,987	SL	5.00 %	2,962
security system	2008-09-11	240,432	157,288	SL	5.00 %	12,022
air cnd. unit-117 john st	2009-09-16	5,880	3,528	SL	5.00 %	147
security camera	2009-04-15	654	412	SL	5.00 %	33
security system upgrade	2009-09-16	23,269	13,956	SL	5.00 %	1,163
Painting carriage house	2009-07-29	5,991	4,867	SL	6.67 %	400
Renovations-Carriage hous	2009-08-17	39,121	31,525	SL	6.67 %	2,609
Landscaping-Carriage hous	2008-10-06	3,845	3,328	SL	6.67 %	256
Tileing-Carriage House	2009-09-16	4,054	3,240	SL	6.67 %	270
security system	2010-08-01	5,664	3,148	SL	5.00 %	283
security system upgrade	2011-02-01	19,075	10,017	SL	5.00 %	954
improvements	2012-07-10	50,000	30,430	SL	6.67 %	3,335
BUILDING - GALLERY II	2013-10-01	9,758,377	1,991,589	SL	2.56 %	250,205
Boiler	2014-12-19	11,089	4,809	SL	6.67 %	740
Hot Water Heater	2014-12-19	3,636	1,579	SL	6.67 %	243
Landscaping	2014-10-20	8,110	3,516	SL	6.67 %	541
Shed	2016-09-29	5,000	1,344	SL	5.00 %	250
G2 Carpet - Gallery	2015-12-03	6,281	5,273	SL	14.29 %	898
Office Chairs	2015-12-15	968	811	SL	14.29 %	138
Gallery Rugs	2016-08-30	3,000	2,197	SL	14.29 %	429
Roof	2016-11-08	8,000	1,000	SL	2.56 %	205
Fan Coil & ACCU G1	2016-10-17	6,790	2,038	SL	6.67 %	453
HVAC 1st Floor Gallery	2017-09-21	3,437	1,030	SL	6.67 %	229
G2 Cameras	2017-01-12	1,820	1,638	SL	10.00 %	182
Computer/ipad	2017-06-15	2,798	2,520	SL	10.00 %	278
IPADS	2017-07-21	1,150	1,035	SL	10.00 %	115
Washer/Dryer	2017-05-11	1,370	882	SL	14.28 %	196
Lawnmower	2017-04-26	6,379	1,912	SL	6.67 %	425
bridge	2018-09-01	35,195	5,500	SL	5.00 %	1,760
equipment	2018-02-28	2,950	1,528	SL	14.28 %	421
bridge	2018-10-31	23,689	2,960	SL	5.00 %	1,184
equipment	2019-05-17	235	85	SL	14.28 %	34
software	2019-07-16	384	320	SL	16.67 %	64

- TIN:

TY 2021 InvestmentsOtherSchedule2

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
flaherty & Crumrine - portfolio	AT COST	3,163,285	2,875,355
btig - portfolio	AT COST

- TIN:

TY 2021 LandEtcSchedule2

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Category / Item	Cost / Other Basis	Accumulated Depreciation	Book Value	End of Year Fair Market Value
Auto./Transportation Equip.	26,250	26,250
Furniture and Fixtures	503,045	459,925	43,120	43,120
Machinery and Equipment	307,212	291,823	15,389	15,389
Buildings	9,758,377	2,241,794	7,516,583	7,516,583
Improvements	2,137,607	1,782,931	354,676	354,676
Land	11,584,916		11,584,916	11,584,916

- TIN:

TY 2021 OtherAssetsSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
artwork, capitalized costs	38,468,931	38,616,122	38,616,122

- TIN:

TY 2021 OtherExpensesSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
bank fees	4,409	2,205	2,205	2,204
computer support	23,707	11,854	11,854	11,853
Insurance	7,450			7,450
office expenses	6,933	3,466	3,466	3,467
program expenses	100,011			100,011
property management expenses	222,588			222,588
shipping, handling & Repair of art	1,743			1,743
utilities	86,058			86,058

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
investment advisory fees	85,400	85,400	85,400	0
outside services	525	0	0	525

- TIN:

TY 2021 TaxesSchedule

Name:

SEVEN BRIDGES FOUNDATION INC

EIN:

06-1498953

Software ID:

21013475

Software Version:

2021v4.1

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
payroll taxes	14,459			14,459
property taxes	17,354			17,354