Form990-PF
Click to see attachment
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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 12-01-2021 , and ending 11-30-2022
Name of foundation
HESS FOUNDATION INC
 
Number and street (or P.O. box number if mail is not delivered to street address)14 SYLVAN WAY 3RD FL
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PARSIPPANY, NJ07054
A Employer identification number

22-1713046
B Telephone number (see instructions)

(973) 403-7997
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$1,059,588,194J 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) 21,547,444
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 9,546,315 9,545,999  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment 19,426,329
b Gross sales price for all assets on line 6a 24,238,002
7 Capital gain net income (from Part IV, line 2)... 19,387,272
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 222,753 203,951  
12 Total. Add lines 1 through 11........ 50,742,841 29,137,222  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment 97,000 0   97,000
b Accounting fees (attach schedule)....... Click to see attachment 249,630 124,815   124,815
c Other professional fees (attach schedule).... Click to see attachment 550,904 350,453   200,451
17 Interest............... 1,003,652 0   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment 403,824 30,568   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 3,600 0   3,600
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 376,393 388,590   680
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 2,685,003 894,426   426,546
25 Contributions, gifts, grants paid....... 32,866,500 32,866,500
26 Total expenses and disbursements. Add lines 24 and 25 35,551,503 894,426   33,293,046
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 15,191,338
b Net investment income (if negative, enter -0-) 28,242,796
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............. 8,874,299 15,903,824 15,903,824
2 Savings and temporary cash investments......... 910,411 3,018 3,018
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) bullet  
Less: allowance for doubtful accounts bullet        
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)....... 51,120,776 Click to see attachment43,142,595 843,446,320
c Investments—corporate bonds (attach schedule).......      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 103,638,356 Click to see attachment135,385,743 199,235,032
14 Land, buildings, and equipment: basis bullet1,000,000
Less: accumulated depreciation (attach schedule) bullet   0 1,000,000 1,000,000
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 164,543,842 195,435,180 1,059,588,194
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment34,300,000 Click to see attachment50,000,000
23 Total liabilities (add lines 17 through 22)......... 34,300,000 50,000,000
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........... 130,243,842 145,435,180
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    
29 Total net assets or fund balances (see instructions)..... 130,243,842 145,435,180
30 Total liabilities and net assets/fund balances (see instructions). 164,543,842 195,435,180
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
130,243,842
2
Enter amount from Part I, line 27a .....................
2
15,191,338
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
145,435,180
5
Decreases not included in line 2 (itemize) bullet
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
145,435,180
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 COURT SQUARE CAPITAL PARTNERS OFFSHORE II, LP P 2014-12-01 2022-11-30
b DARBY LATIN AMERICAN PRIVATE EQUITY FUND (CAYMAN) P 2014-12-01 2022-11-30
c GQG PARTNERS EMERGING MARKET EQUITY P 2014-12-01 2022-11-30
d GS CAPITAL PARTNERS V INSTITUTIONAL LP P 2014-12-01 2022-11-30
e GS CAPITAL PARTNERS VI PARALLEL, LP P 2014-12-01 2022-11-30
GSCP VI PARALLEL LP P 2014-12-01 2022-11-30
GSP 3.0 FUND, LP P 2014-12-01 2022-11-30
HOLOWESKO GLOBAL EQUITY FUND P 2014-12-01 2022-11-30
KKR 2006 ALLSTAR BLOCKER LP P 2014-12-01 2022-11-30
KKR 2006 FUND (OVERSEAS) P 2014-12-01 2022-11-30
KKR 2006 FUND LP P 2014-12-01 2022-11-30
KKR ASIAN FUND P 2014-12-01 2022-11-30
KKR EUROPEAN FUND IV LP P 2014-12-01 2022-11-30
KKR NORTH AMERICA FUND XI LP P 2014-12-01 2022-11-30
KKR NORTH AMERICA XI (CAGE) BLOCKER PARENT P 2014-12-01 2022-11-30
KKR NORTH AMERICA XI (INDIGO) BLOCKER PARENT L.P. P 2014-12-01 2022-11-30
NEWPORT ASIA PARTNERS FUND, LP P 2014-12-01 2022-11-30
OAKTREE VALUE EQUITY FUND P 2014-12-01 2022-11-30
PUBLICLY TRADED SECURITIES P 2014-12-01 2022-11-30
SEMPER VIC PARTNERS (QP) LP P 2014-12-01 2022-11-30
WEST STREET CAPITAL PARTNERS VII - PARALLEL LP P 2014-12-01 2022-11-30
(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     13,671 -13,671
b     694 -694
c 549,090     549,090
d     86,273 -86,273
e 131,364     131,364
131,364     131,364
    15 -15
716,394     716,394
114,458     114,458
17,195     17,195
153,167     153,167
    26,352 -26,352
757,072     757,072
495,493     495,493
143,812     143,812
1,831     1,831
394,343     394,343
696,508     696,508
12,442,574   4,677,289 7,765,285
7,295,378     7,295,378
151,523     151,523
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       -13,671
b       -694
c       549,090
d       -86,273
e       131,364
      131,364
      -15
      716,394
      114,458
      17,195
      153,167
      -26,352
      757,072
      495,493
      143,812
      1,831
      394,343
      696,508
      7,765,285
      7,295,378
      151,523
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 19,387,272
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Form 990-PF (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 392,575
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 392,575
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 371,016
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 142,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 513,016
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 1,543
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 118,898
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet118,898 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletDE, NJ
    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 addressbulletN/A
    14
    The books are in care ofbulletJOSEPH ARNONE HESS FOUNDATIONINC Telephone no.bullet (973) 403-7997

    Located atbullet14 SYLVAN WAYPARSIPPANYNJ ZIP+4bullet07054
    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)
    Yes
     
    (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
    Yes
     
    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
     
    No
    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)
     
    No
    (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
     
     
    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
     
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    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
    CONSTANCE WILLIAMSCO HESS FOUNDATN DIRECTOR, VICE PRESIDENT
    1.00     		0 0 0
    14 SYLVAN WAY 3RD FLOOR
    PARSIPPANY,NJ07054
    EUGENE WGOODWILLIE JR CO HESS FND DIRECTOR, TREASURER
    2.00     		0 0 0
    14 SYLVAN WAY 3RD FLOOR
    PARSIPPANY,NJ07054
    JOHN B HESS CO HESS FOUNDATION DIRECTOR, PRESIDENT
    5.00     		0 0 0
    14 SYLVAN WAY 3RD FLOOR
    PARSIPPANY,NJ07054
    THOMAS H KEAN CO HESS FOUNDATION DIRECTOR, SECRETARY
    1.00     		0 0 0
    14 SYLVAN WAY 3RD FLOOR
    PARSIPPANY,NJ07054
    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
    NONE
    Total number of other employees paid over $50,000...................bullet 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    HESS GROUP LLC INV ADV/ADMIN 400,902
    1185 AVENUE OF THE AMERICAS
    NEW YORK,NY10036
    COHNREZNICK LLP ACCOUNTING AND TAX 249,630
    14 SYLVAN WAY 3RD FLOOR
    PARSIPPANY,NJ07054
    MONTICELLO ASSOCIATES INC INV ADV 150,000
    1800 LARIMER STREET SUITE 2100
    DENVER,CO80202
    SULLIVAN & CROMWELL LEGAL 97,000
    125 BROAD STREET
    NEW YORK,NY10004
    Total number of others receiving over $50,000 for professional services.............bullet0
    Part VIII-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1  
    2  
    3  
    4  
    Part VIII-B
    Summary of Program-Related Investments (see instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See instructions.
    3  
    Total. Add lines 1 through 3.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 8
    Part IX
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    851,078,974
    b
    Average of monthly cash balances.......................
    1b
    2,355,639
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    853,434,613
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    853,434,613
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    12,801,519
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    840,633,094
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    42,031,655
    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
    42,031,655
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    392,575
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    7,343
    c
    Add lines 2a and 2b............................
    2c
    399,918
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    41,631,737
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    41,631,737
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    41,631,737
    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 41,631,737
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 0
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018...... 1,501,627
    d From 2019...... 13,050,136
    e From 2020...... 20,864,727
    f Total of lines 3a through e ........ 35,416,490
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 33,293,046
    a Applied to 2020, but not more than line 2a 0
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 33,293,046
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 8,338,691 8,338,691
    (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 27,077,799
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		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) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		27,077,799
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019.... 6,213,072
    d Excess from 2020.... 20,864,727
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
    bThe form in which applications should be submitted and information and materials they should include:
    cAny submission deadlines:
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    ACADEMY OF MUSIC
    ONE SOUTH BROAD STREET 14TH FLOOR
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    ACADEMY OF NATURAL SCIENCES
    1900 BENJAMIN FRANKLIN PKY
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    ALS ASSOCIATION
    1275 K STREET NW
    WASHINGTON,DC20005     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    AMERICAN MUSEUM OF NATURAL HISTORY
    200 CENTRAL PARK WEST
    NEW YORK,NY10004     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    ANTI-DEFAMATION LEAGUE
    1500 MARKET STREET SUITE 2415
    PHILADELPHIA,PA19102     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 30,000
    BABY2BABY
    6435 WILSHIRE BLVD
    LOS ANGELES,CA90048     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    BARNARD COLLEGE
    3009 BROADWAY
    NEW YORK,NY10027     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 450,000
    BARNES FOUNDATION
    2025 BENJAMIN FRANKLIN PKY
    PHILADELPHIA,PA19130     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    BATES COLLEGE
    2 ANDREWS ROAD
    LEWISTON,ME04240     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    BOSTON COMMUNITY PEDIATRICS
    527 ALBANY ST SUITE 200
    BOSTON,MA02115     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE 4,000
    BRANDYWINE WORKSHOP AND ARCHIVES
    730 SOUTH BROAD ST
    PHILADELPHIA,PA19146     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    CARING FOR FRIENDS
    12271 TOWNSEND ROAD
    PHILADELPHIA,PA19154     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    CARON FOUNDATION
    PO BOX 150
    WERNERSVILLE,PA19565     		  PC BUILDING REPAIRS 25,000
    CENTER FOR REPRODUCTIVE RIGHTS
    120 WALL STREET 14TH FLOOR
    NEW YORK,NY10005     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 250,000
    CHILDREN FIRST
    990 SPRING GARDEN ST SUITE 200
    PHILADELPHIA,PA19123     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    CHILDREN'S NATIONAL MEDICAL CENTER
    111 MICHIGAN AVE NW
    WASHINGTON,DC20010     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000,000
    CITY HARVEST INC
    150 52ND STREET
    BROOKLYN,NY11232     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 205,000
    COLLEGE OF PHYSICIANS
    195 22ND STREET
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 20,000
    COLUMBIA UNIVERSITY - MAILMAN SCHOOL
    722 WEST 168TH STREET 14TH FL
    NEW YORK,NY10032     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    COMMUNITY LEGAL SERVICES
    305 S 2ND AVENUE
    PHOENIX,AZ85003     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    DEERFIELD ACADEMY
    PO BOX 306
    DEERFIELD,MA01342     		  PC MARGARITA O'BYRNE CURTIS FUND FOR GLOBAL CITIZENSHIP 1,500,000
    DEERFIELD ACADEMY
    PO BOX 306
    DEERFIELD,MA01342     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    DEPT OF STATE - DIPLOMATIC RECEPTION ROOM
    2201 C STREET NW
    WASHINGTON,DC20520     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    DERBY ACADEMY
    56 BURDITT AVENUE
    HINGHAM,MA02043     		  PC HESS FOUNDATION STEPPINGSTONE SCHOLARS FUND 15,000
    DOUBLE EDGE THEATRE
    948 CONWAY ROAD
    ASHFIELD,MA013309772     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 110,000
    EDUCATION LAW CENTER
    1315 WALNUT STREET
    PHILADELPHIA,PA19107     		  PC COVID-19 EMERGENCY ACTION 30,000
    EDWARD CHARLES FOUNDATION
    269 SOUTH BEVERLY DR STE 338
    BEVERLY HILLS,CA90212     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    EISENHOWER EXCHANGE FELLOWSHIPS
    250 S 16TH ST
    PHILADELPHIA,PA19102     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 500,000
    EJS PRESIDENTIAL FOUNDATION
    1100 CONNECTICUT AVE NW SUITE 330
    WASHINGTON,DC20036     		  PC THE ELLEN JOHNSON SIRLEAF PRESIDENTIAL CENTER FOR WOMEN AND DEVELOPMENT 50,000
    ELMWOOD PARK ZOO
    1661 HARDING BLVD
    NORRISTOWN,PA19401     		  PC BLOCKSON EXHIBIT 10,000
    FAIR ELECTIONS CENTER
    1825 K ST NW STE 450
    WASHINGTON,DC20006     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    FEDERATION EARLY LEARNING SERVICES
    10700 JAMISON AVENUE
    PHILADELPHIA,PA19116     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    FILM SOCIETY OF LINCOLN CENTER INC
    165 WEST 65TH STREET
    NEW YORK,NY10023     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 150,000
    FORD'S THEATRE SOCIETY
    514 TENTH STREET NW
    WASHINGTON,DC20004     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    FOUNDATION - ARTS & PRESERVATION IN EMBASSIES
    1725 I ST NW STE 300
    WASHINGTON,DC20006     		  PC ARTS DEPARTMENT 25,000
    FRANKLIN INSTITUTE
    222 NORTH 20TH STREET
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    FRIENDS OF HOLLY HILL FARM
    236 JERUSALEM ROAD
    COHASSET,MA02025     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 2,000
    FRIENDS OF THE HIGH LINE
    DILLER-VON FURSTENBERG BLDG 820
    WASHINGTON ST
    NEW YORK,NY10014     		  PC THE GIFT OF UNDERSTANDING 10,000
    FUND - SCHOOL DISTRICT OF PHILADELPHIA
    30 SOUTH 17TH STREET 11TH FLOOR
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 255,000
    GLADWYNE PRESBYTERIAN CHURCH
    1321 BEAUMONT DRIVE
    GLADWYNE,PA19035     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 15,000
    GREENLIGHT FUND
    1501 CHERRY STREET
    PHILADELPHIA,PA19102     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    HARVARD BUSINESS SCHOOL
    124 MOUNT AUBURN STREET
    CAMBRIDGE,MA021385762     		  PC JBH FUND FOR INNOVATION AND LEADERSHIP 5,000,000
    HARVARD BUSINESS SCHOOL
    124 MOUNT AUBURN STREET
    CAMBRIDGE,MA021385762     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 175,000
    HARVARD COLLEGE FUND
    124 MOUNT AUBURN STREET
    CAMBRIDGE,MA021385762     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    HARVARD MEDICAL SCHOOL
    124 MOUNT AUBURN STREET
    CAMBRIDGE,MA021385762     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    HIAS PENNSYLVANIA
    2100 ARCH STREET
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 150,000
    HISTORIC MORVEN INC
    55 STOCKTON STREET
    PRINCETON,NJ08540     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 30,000
    HOSPITAL FOR SPECIAL SURGERY
    535 EAST 70TH STREET
    NEW YORK,NY10021     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    ICU BABY INC
    711 CRANDON BLVD PH1
    KEY BISCAYNE,FL33149     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    INGLIS FOUNDATION
    2600 BELMONT AVENUE
    PHILADELPHIA,PA191312799     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    INTERFAITH CTR OF GREATER PHILADELPHIA
    100 WOXFORD STREET E-1300
    PHILADELPHIA,PA19122     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    IREX
    1275 K STREET NW SUITE 600
    WASHINGTON,DC20005     		  PC RAPID REACTION SUPPORT FUND 1,000
    JACKSON HEALTH FOUNDATION INC
    1500 NW 12TH AVE SUITE 1117 EAST
    MIAMI,FL33136     		  PC UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE 500,000
    JEWISH FAMILY & CHILDREN'S SERVICES
    2100 ARCH STREET
    PHILADELPHIA,PA19103     		  PC MY VOTE, MY WAY CAMPAIGN 50,000
    JEWISH FEDERATION OF GREATER PHILA
    2100 ARCH STREET
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    JOHN F KENNEDY CTR FOR PERFORMING ARTS
    2700 F STREET NW
    WASHINGTON,DC20566     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 4,000
    KENYAN SCHOOLS OF HOPE
    3 S SCARLET ELM CT
    SPRING,TX77382     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    KIMMEL CULTURAL CAMPUS
    300 S BROAD STREET
    PHILADELPHIA,PA19102     		  PC IN SUPPORT OF DR. JEAN-PIERRE HUBSCHMANS RESEARCH 5,000
    LINCOLN CTR FOR THE PERFORMING ARTS
    70 LINCOLN CENTER PLAZA
    NEW YORK,NY10023     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,250,000
    LOWER MERION CONSERVANCY
    73 EAST LANCASTER AVENUE
    ARDMORE,PA19003     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    LOWER MERION LIBRARY FOUNDATION
    75 E LANCASTER AVENUE
    ARDMORE,PA19003     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    LYFORD CAY FOUNDATION INC
    521 5TH AVE 10TH FLOOR
    NEW YORK,NY10175     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    MAGEE REHABILITATION HOSPITAL
    1513 RACE STREET
    PHILADELPHIA,PA19102     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    MARTHA'S TABLE
    2375 ELVANS ROAD SE
    WASHINGTON,DC20020     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000
    MATERNITY CARE COALITION
    2000 HAMILTON STREET STE 205
    PHILADELPHIA,PA19130     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    MEDICAL MISSIONS FOR CHILDREN INC
    10-G ROESSLER ROAD SUITE 500
    WOBURN,MA01801     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    MERCY CORPS
    45 SW ANKENY STREET
    PORTLAND,OR97204     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		  PC CHAIRMAN'S COUNCIL 2020-2021 310,000
    MIDDLEBURY COLLEGE
    152 MAPLE STREET
    MIDDLEBURY,VT05753     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    MUSEUM ASSOCIATES
    5905 WILSHIRE BLVD
    LOS ANGELES,CA90036     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,100,000
    NATIONAL CONSTITUTION CENTER
    INDEPENDENCE MALL-525 ARCH ST
    PHILADELPHIA,PA19106     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    NATIONAL GALLERY OF ART
    2000 S CLUB DRIVE
    LANDOVER,MD20785     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000
    NATIONAL LANDS TRUST INC
    1031 PALMERS MILL ROAD
    MEDIA,PA19063     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    NEW YORK PRESBYTERIAN FUND INC
    525 EAST 68TH STREET BOX 156
    NEW YORK,NY10065     		  PC FOOD INSECURITY PROGRAMS 10,000
    NOBLE & GREENOUGH SCHOOL
    10 CAMPUS DRIVE
    DEDHAM,MA02026     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    NUCLEAR THREAT INITIATIVE
    1776 EYE STREET NW SUITE 600
    WASHINGTON,DC20006     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 120,000
    PARK AVENUE SYNAGOGUE
    50 EAST 87TH STREET
    NEW YORK,NY10128     		  PC BAHAMAS RELIEF 1,000,000
    PENNSYLVANIA HORTICULTURAL SOCIETY
    100 N20TH ST 5TH FLOOR
    PHILADELPHIA,PA191031495     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    PHILABUNDANCE
    3616 SOUTH GALLOWAY STREET
    PHILADELPHIA,PA19148     		  PC PROJECTS IN KRYGZSTAN 100,000
    PHILADELPHIA CITY ROWING
    450 PLYMOUTH ROAD
    PHILADELPHIA,PA19462     		  PC BUILD-OUT OF NEW SPACE 120,000
    PHILADELPHIA MURAL ARTS PROGRAM
    1727-29 MOUNT VERNON STREET
    PHILADELPHIA,PA19130     		  PC TIMOTHY RUBB FUND FOR ACQUISITIONS 50,000
    PHILADELPHIA MUSEUM OF ART
    PERELMAN BUILDING-PO BOX 7646
    PHILADELPHIA,PA191017646     		  PC FOR RIVER OF FORMS EXHIBITIONS 403,500
    PHILADELPHIA ORCHESTRA
    ONE SOUTH BROAD STREET
    PHILADELPHIA,PA19107     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000,000
    PHILADELPHIA SOCCER 2026
    1601 MARKET ST STE 200
    PHILADELPHIA,PA19103     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 90,000
    PHILADELPHIA ZOO
    3400 W GIRARD AVENUE
    PHILADELPHIA,PA19104     		  PC COVID-19 RESPONSE 100,000
    PHILLIPS COLLECTION
    1600 21ST STREET NW
    WASHINGTON,DC20009     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 75,000
    PRINCETON UNIVERSITY
    PO BOX 5357
    PRINCETON,NJ085435357     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 125,000
    PROJECT CHIMPS
    PO BOX 2140
    BLUE RIDGE,GA30513     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    PROJECT HOME
    1515 FAIRMOUNT AVENUE
    PHILADELPHIA,PA191302996     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 600,000
    PROSTATE CANCER FOUNDATION
    1250 FOURTH STREET
    SANTA MONICA,CA90401     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    REFUGEE & IMMIGRANT ASSISTANCE CENTER
    253 ROXBURY STREET
    ROXBURY,MA02119     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 4,000
    RENDELL CENTER
    PO BOX 1033
    BERWYN,PA19312     		  PC IN SUPPORT OF NEW FACILITIES 5,000
    RIVERBEND ENVIRONMENTAL EDUCATION CENTER
    1950 SPRING MILL ROAD
    GLADWYNE,PA19035     		  PC ART THERAPY PROGRAM 10,000
    RUTGERS UNIVERSITY FOUNDATION
    7 COLLEGE AVENUE
    NEW BRUNSWICK,NJ08901     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    SHARING EXCESS
    4942 CHANCELLOR ST
    PHILADELPHIA,PA19139     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    SOCIETY OF GENERAL INTERNAL MEDICINE
    1500 KING STREET
    ALEXANDRIA,VA22314     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    SPONSORS FOR EDUCATIONAL OPPORTUNITY
    55 EXCHANGE PLACE SUITE 601
    NEW YORK,NY10005     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 250,000
    SQUAM LAKES CONSERVATION SOCIETY
    PO BOX 696
    HOLDERNESS,NH03245     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    ST MARY'S COLLEGE OF MARYLAND
    18952 E FISHER ROAD
    ST MARYS CITY,MD20686     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000
    STEPPINGSTONE FOUNDATION
    ONE APPLETON STREET 4TH FL
    BOSTON,MA02116     		  PC ENDOWMENT, CATALYST 280,000
    STEPPINGSTONE SCHOLARS INC
    1301 CECIL B MOORE AVENUE
    PHILADELPHIA,PA19122     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000,000
    STUDIO MUSEUM IN HARLEM
    144 WEST 125TH STREET
    NEW YORK,NY10027     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 100,000
    SUPPORT CENTER FOR CHILD ADVOCATES
    1900 CHERRY STREET
    PHILADELPHIA,PA19103     		  PC ART AFTER DARK 15,000
    THE BARACK OBAMA FOUNDATION
    5235 SOUTH HARPER COURT NO 1140
    CHICAGO,IL60615     		  PC COMMUNITY ACCESS PROGRAM 100,000
    THE FABRIC WORKSHOP AND MUSEUM
    1214 ARCH STRRET
    PHILADELPHIA,PA19107     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 10,000
    THE LAB SCHOOL OF WASHINGTON
    4759 RESERVOIR RD NW
    WASHINGTON,DC20007     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    THE LENFEST INSTITUTE FOR JOURNALISM
    801 MARKET STREET SUITE 300
    PHILADELPHIA,PA19107     		  PC WELLNESS KITS 10,000
    THE TEAK FELLOWSHIP
    16 WEST 22ND STREET SUITE 300
    NEW YORK,NY10010     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    THEATRE HORIZON
    401 DEKALB ST
    NORRISTOWN,PA19401     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 75,000
    TRUSTEES OF THE UNIVERSITY OF PA
    3451 WALNUT ST/433 FRANKLIN BLDG
    PHILADELPHIA,PA191046205     		  PC WILLIAMS FELLOWSHIP ENDOWMENT 800,000
    TRUSTEES OF THE UNIVERSITY OF PA
    3451 WALNUT ST/433 FRANKLIN BLDG
    PHILADELPHIA,PA191046205     		  PC LDI HEALTHCARE ACCESS AND AFFORDABILITY RESEARCH FUND 200,000
    TRUSTEES OF THE UNIVERSITY OF PA
    3451 WALNUT ST/433 FRANKLIN BLDG
    PHILADELPHIA,PA191046205     		  PC BRIDGING THE GAPS PROGRAM 25,000
    TRUSTEES OF THE UNIVERSITY OF PA
    3451 WALNUT ST/433 FRANKLIN BLDG
    PHILADELPHIA,PA191046205     		  PC WHARTON FUND 25,000
    TRUSTEES OF THE UNIVERSITY OF PA
    3451 WALNUT ST/433 FRANKLIN BLDG
    PHILADELPHIA,PA191046205     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 75,000
    UNITED WAY OF SOUTHEASTERN PA
    1709 BENJAMIN FRANKLIN PKY
    PHILADELPHIA,PA19103     		  PC CENTER FOR AMERICAN WOMEN AND POLITICS 15,000
    UNIVERSITY OF PENNSYLVANIA
    2929 WALNUT ST SUITE 300
    PHILADELPHIA,PA19104     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 500,000
    USTA FOUNDATION INCORPORATED
    70 W RED OAK LANE
    WHITE PLAINS,NY10604     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 1,000,000
    VIA ART FUND INC
    83 NEWBURY STREET 4TH FLOOR
    BOSTON,MA02116     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    VISIONSPRING INC
    505 EIGHTH AVENUE NO 12A-07
    NEW YORK,NY10018     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 50,000
    VOLUNTEER MEDICAL SERVICE LMN
    101 SIBLEY AVENUE
    ARDMORE,PA19003     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    WASHINGTON INTERNATIONAL SCHOOL
    3100 MACOMB ST NW
    WASHINGTON,DC20008     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 15,000
    WEITZMAN MUSEUM
    101 SOUTH INDEPENDENCE MALL EAST
    PHILADELPHIA,PA19106     		  PC GIVE KIDS SIGHT DAYS 5,000
    WHITNEY MUSEUM OF AMERICAN ART
    945 MADISON AVENUE
    NEW YORK,NY10021     		  PC 2021 STATEMENT OF SUPPORT 1,535,000
    WHY NOT PROSPER INC
    717E CHELTON AVENUE
    PHILADELPHIA,PA19144     		  PC STEPPING UP CAMPAIGN TO NARROW EDUCATIONAL AND DIGITAL DIVIDES 5,000
    WHYY
    150 N 6TH STREET
    PHILADELPHIA,PA19106     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 20,000
    WOMEN'S CANCER RESEARCH FUND
    28 WEST 44TH STREET SUITE 609
    NEW YORK,NY10036     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 25,000
    WORLD JEWISH CONGRESS AMERICAN SECTION
    501 MADISON AVENUE
    NEW YORK,NY10022     		  PC IN HONOR OF RONALD LAUDER 100,000
    WXPN
    PO BOX 8419
    PHILADELPHIA,PA191017646     		  PC AN UNRESTRICTED GRANT TO FURTHER THE DONEE'S EXEMPT PURPOSE. 5,000
    Total .................................bullet 3a 32,866,500
    bApproved for future payment
    Total .................................bullet 3b 0
    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 ...........     		         
    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 ............     		523000 39,057 18 19,387,272  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aASPEN CCS LLC     		    14 -328  
    bDARBY LATIN AMERICA PEF     14 3  
    cGQC PARTNERS EMERGING MARKETS EQUITY FUND     14 -5,942  
    dGS CAPITAL PARTNERS VI PARALLEL, LP 523000 1 14 -2,308  
    eGSCP VI PARALLEL LP 523000 1   -2,308  
    fGSCP VI PARALLEL LP     14    
    gGSP 3.0 FUND   -3,070 14 -24,669  
    hHOLOWESKO GLOBAL EQUITY FUND 523000 49 14 42,646  
    iKKR 2006 FUND LP     14 13,707  
    jKKR ASIAN FUND     14 11,919  
    kKKR EUROPEAN FUND IV LP     14 116,926  
    lKKR REPA AIV-2 FEEDER L.P 523000 36,524      
    mKKR REPA AIV-3 FEEDER L.P 523000 -16,345      
    nNEWPORT ASIA PARTNERS FUND, LP     14 -2,742  
    oOAKTREE VALUE EQUITY FUND     14 26,685  
    pSEMPER VIC PARTNERS (QP) LP     14 354  
    qTAX REFUND     14 1,642  
    rWEST STREET CAPITAL PARTNERS VII - PARALLEL LP     14 19,392  
    sWEST STREET CAPITAL PARTNERS VIII-PARALLEL, L.P     14 10,616  
    12 Subtotal. Add columns (b), (d), and (e) .. 56,533 29,138,864 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    29,195,397
    (See worksheet in line 13 instructions to verify calculations.)
    Part XV-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
    the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


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

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

    22-1713046
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
    or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990) (2021)
    Schedule B (Form 990) (2021) Page 2
    Name of organization
    HESS FOUNDATION INC
          		Employer identification number
    22-1713046
    Part I
    Contributors
    Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    THE LEON HESS 25-YEAR CHARITABLE LEAD ANNUITY TRUST
     
    1185 AVENUE OF THE AMERICAS
     
    NEW YORK, NY10036

    		$ 21,547,444


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 3
    Name of organization
    HESS FOUNDATION INC
          		Employer identification number

    22-1713046
    Part II
    Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990) (2021)
    Schedule B (Form 990) (2021)
    Page 4
    Name of organization
    HESS FOUNDATION INC
          		Employer identification number

    22-1713046
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990) (2021)
    Additional Data


    Software ID:  
    Software Version:  

    TY 2021 AccountingFeesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    COHNREZNICK LLP 249,630 124,815   124,815

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

    TY 2021 GainLossSaleOtherAssetsSch
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
    HOLOWESKO GLOBAL EQUITY FUND 2014-12 PURCHASED 2022-11   26,907   COST 0 26,907  
    KKR REPA AIV-2 FEEDER L.P 2014-12 PURCHASED 2022-11   19,529   COST 0 19,529  
    KKR REPA AIV-3 FEEDER L.P 2014-12 PURCHASED 2022-11     7,379 COST 0 -7,379  

    TY 2021 GeneralExplanationAttachment
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Identifier Return Reference Explanation
      FORM 990-PF, PART VII-B, LINE 1A(3): AS PART OF THEIR DUTIES, BOARD MEMBERS PROVIDE VARIOUS SERVICES TO THE FOUNDATION. BECAUSE THESE SERVICES ARE PROVIDED ON A PRO-BONO BASIS, THEY MEET THE REQUIREMENTS FOR THE EXCEPTION TO SELF-DEALING UNDER THE REGULATIONS OF INTERNAL REVENUE CODE SECTION 4941.
      FORM 990-PF, PART VII-B, LINE 1A(4): THE HESS GROUP, INC., A DISQUALIFIED PERSON WITH RESPECT TO THE FOUNDATION, RECEIVED COMPENSATION FROM THE FOUNDATION THE YEAR ENDED NOVEMBER 30, 2022 FOR PROFESSIONAL SERVICES RENDERED TO THE FOUNDATION. BECAUSE THE COMPENSATION WAS REASONABLE, IT MEETS THE REQUIREMENTS FOR THE EXCEPTION TO SELF-DEALING UNDER THE REGULATIONS OF INTERNAL REVENUE CODE SECTION 4941.

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Name of Stock End of Year Book Value End of Year Fair Market Value
    HESS CORPORATION 43,142,595 843,446,320

    TY 2021 InvestmentsOtherSchedule2
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ASPEN CCS COST FMV 2,031,944 2,021,479
    BCI SECURITIES: HESS STOCK COST FMV 3,566,182 89,224,200
    BETTOR CAPITAL COST FMV 493,383 561,351
    CIRCLE 9 FMV 31,800,000 31,800,000
    COATUE EARLY STAGE FMV 815,970 1,465,724
    COATUE GROWTH IV FMV 1,526,011 1,625,427
    COATUE KONA III FMV 1,565,940 3,346,053
    COATUE PE FUND II FMV 100,372 443,464
    COATURE GROWTH V OFFSHORE COST FMV 1,425,281 980,723
    COATURE VENTURE II COST FMV 1,738,693 1,815,674
    COURT SQUARE CAPITAL FMV 1,561,712 90,634
    DARBY BBVA FMV 1,600,270 144,795
    DARBY EMERGING MARKETS FMV 380,319 0
    DAVIDSON KEMPNER FMV 221,463 0
    DURABLE CAPITAL OFFSHORE FUND COST FMV 8,000,000 0
    DW PARTNERS FMV 276,858 0
    EDGEWOOD GROWTH FUND FMV 10,516,227 12,537,758
    GQG PARTNERS FMV 5,220,802 5,109,021
    GS ALTER INVESTMENTS- VINTAGE IX B FMV 40,000 0
    GS ALTER INVESTMENTS WEST ST CAPITAL FMV 1,113,480 0
    GS ALTER INVESTMENTS-SELECT FUND FMV 198,314 0
    GS CAPITAL PARTNERS V FMV 1,138,969 0
    GS CAPITAL PARTNERS VI FMV 451,795 0
    GS DRT INVESTORS FMV 232,912 0
    GS MEZZANINE PARTNERS FMV 37,532 0
    GS WEST ST CAPITAL VI FMV 788,174 0
    GSP 3.0 FUND FMV 1,047,626 1,191,527
    GSP 3.0 FUND WBG AIV-1 FMV 122,867 121,636
    HOLOWESKO GLOBAL EQUITY FMV 821,089 0
    HORIZON SURGICAL COST FMV 1,500,000 0
    K5 GLOBAL GOWTH FUND COST FMV 2,000,000 1,431,456
    K5 GLOBAL OPPORTUNITY (BORING) FMV 535,000 0
    K5 GLOBAL VENTURES LP FMV 333,000 0
    KKR 2006 FUND FMV 689,747 208,735
    KKR ASIAN FUND FMV 2,697,130 6,268
    KKR ASIAN FUND II FMV 514,184 1,430,368
    KKR EUROPEAN FUND FMV 1,072,140 2,365,460
    KKR NORTH AMERICAN FUND FMV 0 1,365,196
    KKR RE PARTNERS FMV 618,561 168,103
    LEE EQUITY STRATEGIC PARTNERS FMV 1,647,865 0
    MANTIS CAPITAL COST FMV 725,000 731,966
    NEWFLOW AMITY FUND I COST FMV 1,000,000 1,000,000
    NEWPORT ASIA FMV 3,134,867 4,669,250
    OAKTREE VALUE FMV 422,187 2,048,913
    PTC CRYPTO FUND COST FMV 2,000,000 2,249,870
    RA CAPITAL COST FMV 5,000,000 3,594,665
    ROCKEFELLER GA INVESTORS LP FMV 1,596,539 274,950
    SEMPER VIC PARTNERS-COST FMV 7,153,406 164,093
    SKYE GLOBAL FMV 8,000,000 9,517,670
    SPY GLASS GROWTH FUND COST FMV 5,472,591 2,905,893
    THE STANDARD MIAMI COST FMV 800,000 0
    THRIVE CAPITAL PTRS VIII GROWTH COST FMV 269,753 161,854
    TQ VENTURES III EARLY COST FMV 40,000 28,052
    TQ VENTURES III GROWTH COST FMV 120,000 86,643
    WELLINGTON FMV 9,209,588 12,346,161

    TY 2021 LegalFeesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    SULLIVAN & CROMWELL, LLP 97,000 0   97,000


    TY 2021 OtherExpensesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FILING FEES 26 0   26
    EXPENSES FROM K-1 PASSTHROUGH 375,713 388,590   0
    BANK CHARGE 654 0   654


    TY 2021 OtherIncomeSchedule2
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ASPEN CCS LLC -328 -328 -328
    DARBY LATIN AMERICA PEF 3 3 3
    GQC PARTNERS EMERGING MARKETS EQUITY FUND -5,942 -5,942 -5,942
    GS CAPITAL PARTNERS VI PARALLEL, LP -2,307 -2,308 -2,307
    GSCP VI PARALLEL LP -2,307 -2,308 -2,307
    GSP 3.0 FUND -27,739 -24,669 -27,739
    HOLOWESKO GLOBAL EQUITY FUND 42,695 42,646 42,695
    KKR 2006 FUND LP 13,707 13,707 13,707
    KKR ASIAN FUND 11,919 11,919 11,919
    KKR EUROPEAN FUND IV LP 116,926 116,926 116,926
    KKR REPA AIV-2 FEEDER L.P 36,524 0 36,524
    KKR REPA AIV-3 FEEDER L.P -16,345 0 -16,345
    NEWPORT ASIA PARTNERS FUND, LP -2,742 -2,742 -2,742
    OAKTREE VALUE EQUITY FUND 26,685 26,685 26,685
    SEMPER VIC PARTNERS (QP) LP 354 354 354
    TAX REFUND 1,642   1,642
    WEST STREET CAPITAL PARTNERS VII - PARALLEL LP 19,392 19,392 19,392
    WEST STREET CAPITAL PARTNERS VIII-PARALLEL, L.P 10,616 10,616 10,616


    TY 2021 OtherLiabilitiesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Description Beginning of Year - Book Value End of Year - Book Value
    LINE OF CREDIT 34,300,000 50,000,000


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    HESS GROUP 400,902 200,451   200,451
    GOLDMAN SACHS 2 2   0
    MONTICELLO ASSOCIATES, INCORPORATED 150,000 150,000   0


    TY 2021 TaxesSchedule
    Name:
    HESS FOUNDATION INC
    EIN:
    22-1713046
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAXES WITHHELD 30,574 30,568   0
    STATE UNRELATED BUSINESS TAXES 250 0   0
    EXCISE TAXES 373,000 0   0