Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 01-01-2021 , and ending 12-31-2021
Name of foundation
THE FB HERON FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)PO BOX 996
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
NEW MILFORD, CT06776
A Employer identification number

13-3647019
B Telephone number (see instructions)

(475) 250-1020
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$412,823,233J 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)  
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 5,353,699 5,353,699  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 22,857,070
b Gross sales price for all assets on line 6a 77,480,108
7 Capital gain net income (from Part IV, line 2)... 22,857,070
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 77,891 0  
12 Total. Add lines 1 through 11........ 28,288,660 28,210,769  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 630,842 94,626   536,216
14 Other employee salaries and wages...... 1,669,902 251,330   1,661,612
15 Pension plans, employee benefits....... 754,812 113,222   645,866
16a Legal fees (attach schedule)......... Click to see attachment 29,131 0   29,131
b Accounting fees (attach schedule)....... Click to see attachment 69,225 5,925   90,143
c Other professional fees (attach schedule).... Click to see attachment 1,717,485 1,058,993   795,125
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 370,000 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 15,482 121   11,898
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 578,256 331,615   224,817
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,835,135 1,855,832   3,994,808
25 Contributions, gifts, grants paid....... 9,778,450 10,179,700
26 Total expenses and disbursements. Add lines 24 and 25 15,613,585 1,855,832   14,174,508
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 12,675,075
b Net investment income (if negative, enter -0-) 26,354,937
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............. 2,152,868 3,172,141 3,172,141
2 Savings and temporary cash investments......... 3,646,168 6,666,927 6,666,927
3 Accounts receivable bullet755,916
Less: allowance for doubtful accounts bullet   760,587 755,916 755,916
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.......... 191,171 575,285 575,285
10a Investments—U.S. and state government obligations (attach schedule) 79,426,895 Click to see attachment84,725,889 84,725,889
b Investments—corporate stock (attach schedule)....... 212,716,498 Click to see attachment261,539,269 261,539,269
c Investments—corporate bonds (attach schedule)....... 4,260,457 Click to see attachment3,516,369 3,516,369
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 43,919,916 Click to see attachment37,231,340 37,231,340
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet) Click to see attachment13,585,326 Click to see attachment14,640,097 Click to see attachment14,640,097
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 360,659,886 412,823,233 412,823,233
Liabilities 17 Accounts payable and accrued expenses.......... 736,701 762,704
18 Grants payable................. 975,000 575,000
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,071,268 Click to see attachment1,568,119
23 Total liabilities (add lines 17 through 22)......... 2,782,969 2,905,823
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........... 357,876,917 409,917,410
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)..... 357,876,917 409,917,410
30 Total liabilities and net assets/fund balances (see instructions). 360,659,886 412,823,233
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
357,876,917
2
Enter amount from Part I, line 27a .....................
2
12,675,075
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
39,365,418
4
Add lines 1, 2, and 3 ..........................
4
409,917,410
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
409,917,410
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b OWNERSHIP CAPITAL P    
c BLACKROCK ETFS P    
d URBAN AMERICA II P    
e YUCAIPA I P    
CALIFORNIA SMART GROWTH P    
YUCAIPA II P    
HUNTINGTON III P    
HUNTINGTON II P    
DBL P    
SJF III P    
URBAN INNOVATION P    
HUNTINGTON IV P    
SJF II P    
SJF IV P    
(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 60,361,352   45,229,650 15,131,702
b 1,670,532     1,670,532
c 12,707,234   8,856,679 3,850,555
d     68,728 -68,728
e     174,014 -174,014
    103,524 -103,524
101,586     101,586
261,270     261,270
    183,554 -183,554
526,193     526,193
742,331     742,331
300,935     300,935
    6,889 -6,889
177,868     177,868
630,807     630,807
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       15,131,702
b       1,670,532
c       3,850,555
d       -68,728
e       -174,014
      -103,524
      101,586
      261,270
      -183,554
      526,193
      742,331
      300,935
      -6,889
      177,868
      630,807
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 22,857,070
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........................... 3 366,334
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- ..... 5 366,334
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 277,955
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 135,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 412,955
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
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 46,621
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet46,621 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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
    and Part XIV..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletNY, CT
    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 addressbulletWWW.HERON.ORG
    14
    The books are in care ofbulletThe Foundation Telephone no.bullet (475) 250-1020

    Located atbulletPO BOX 996NEW MILFORDCT ZIP+4bullet06776
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16   No
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bullet
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
    1a(1)
     
    No
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person? ..............................
    1a(2)
     
    No
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
    1a(3)
     
    No
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
    1a(4)
    Yes
     
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)? ......................
    1a(5)
     
    No
    (6) Agree to pay money or property to a government official? (Exception. Check "No"
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.) ...............
    1a(6)
     
    No
    b
    If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
    1b
     
    No
    c
    ........bullet
    d
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2021? .............
    1d
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer "No" and attach statement—see instructions.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year? ..............................
    3a
     
    No
    b
    If "Yes," did it have excess business holdings in 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 6
    Part VI-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
    5a(1)
     
    No
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive? ....................
    5a(2)
     
    No
    (3) Provide a grant to an individual for travel, study, or other similar purposes? .............
    5a(3)
     
    No
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
    Yes
     
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract? .............................
    6a
     
    No
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    7a
     
    No
    b
    If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
    7b
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .........................
    8
     
    No
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ANNE WADE DIRECTOR
    3.00     		0 0 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    DANA K BEZERRA PRESIDENT
    40.00     		371,252 38,236 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    NHADINE LEUNG VICE PRESIDENT/TREASURER
    40.00     		259,590 26,481 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    BUZZ SCHMIDT CHAIRMAN
    4.00     		0 0 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    WILLIAM MC CALPIN DIRECTOR
    3.00     		0 0 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    JOHN OTTERLEI DIRECTOR
    3.00     		0 0 0
    C/O FB HERON FOUNDATION
    NEW MILFORD,CT06776
    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
    BRENDAN MAHER VP - INTEGRATED CAPI
    40.00     		221,544 50,037 0
    C/O FOUNDATION
    NEW MILFORD,CT06776
    BARBARA VANSCOY FIXED INCOME FELLOW
    40.00     		204,000 47,591 0
    C/O FOUNDATION
    NEW MILFORD,CT06776
    DONNA DANIELS VP - INTEGRATED CAPI
    40.00     		205,625 36,398 0
    C/O FOUNDATION
    NEW MILFORD,CT06776
    KELLY RYAN FELLOW
    40.00     		204,000 35,396 0
    C/O FOUNDATION
    NEW MILFORD,CT06776
    SHELLEY CURNOW DIRECTOR SYSTEMS
    40.00     		142,800 47,850 0
    C/O FOUNDATION
    NEW MILFORD,CT06776
    Total number of other employees paid over $50,000...................bullet 6
    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
    TILT INVESTMENT MANAGEMENT INVESTMENT CONSULTING 450,000
    2212 QUEEN ANNE AVE N
    SEATTLE,WA98109
    APERIO INVESTMENT ADVICE 178,060
    THREE HARBOR DRIVE
    SAUSALITO,CA94965
    INFOGRATE CONSULTING 115,000
    35 ELM ROCK ROAD
    BRONXVILLE,NY10708
    BOSTON COMMON ASSET MANAGEMENT INVESTMENT CONSULTING 112,643
    200 STATE ST
    BOSTON,MA02109
    BIVIUM CONSULTING 80,000
    601 MONTGOMERY STREET
    SAN FRANCISCO,CA94111
    Total number of others receiving over $50,000 for professional services.............bullet4
    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 PROVIDING ASSISTANCE TO OTHER CHARITABLE ORGANIZATIONS THROUGH BOARD SERVICE, CONVENING CONFERENCES AND MEETINGS AND PROVIDING DIRECT TECHNICAL ASSISTANCE 100,000
    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 NEW HAVEN BANK PRI DEPOSIT 1,500,000
    2 URBAN INNOVATION FUND 240,000
    All other program-related investments. See instructions.
    3 Click to see attachment 225,545
    Total. Add lines 1 through 3.........................bullet1,965,545
    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
    372,549,720
    b
    Average of monthly cash balances.......................
    1b
    2,214,076
    c
    Fair market value of all other assets (see instructions)................
    1c
    1,141,480
    d
    Total (add lines 1a, b, and c).........................
    1d
    375,905,276
    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
    375,905,276
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    5,638,579
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    370,266,697
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    18,513,335
    Part X
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part IX, line 6..................
    1
    18,513,335
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    366,334
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    366,334
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    18,147,001
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    2,660,774
    5
    Add lines 3 and 4............................
    5
    20,807,775
    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
    20,807,775
    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 20,807,775
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 13,352,872
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 16,140,053
    a Applied to 2020, but not more than line 2a 13,352,872
    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..... 2,787,181
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		18,020,594
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    THE FB HERON FOUNDATION
    PO BOX 996
    NEW MILFORD,CT06776
    (475) 250-1020
    bThe form in which applications should be submitted and information and materials they should include:
    PLEASE REFER TO THE WEBSITE - WWW.HERON.ORG
    cAny submission deadlines:
    NONE
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    PER GUIDELINES
    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
    Alex C Dove Foundation Inc
    928 Sussex Ct
    Nekoosa,WI54457     		  PC General Support 1,000
    Alex C Dove Foundation Inc
    928 Sussex Ct
    Nekoosa,WI54457     		  PC General Support 1,000
    Allied Media Projects
    4126 Third Avenue
    Detroit,MI48201     		  PC Project-Based 150,000
    Amalgamated Charitable Foundation Inc
    1825 K Street NW
    Washington,DC20006     		  PC Project-Based 150,000
    Appalachian Community Fund Inc
    1405 E Magnolia Avenue
    Knoxville,TN37917     		  PC General Support 100,000
    As You Sow
    Main Post Office PO Box 751
    Berkeley,CA94701     		  PC General Support 2,000
    Assistance League of Minneapolis - St Paul
    6416 Penn Avenue S
    Richfield,MN554231141     		  PC General Support 500
    Association For Glycogen Storage Diseaes
    1542 Flammang Dr PMB 1004
    Waterloo,IA50702     		  PC General Support 2,000
    Baton Rouge Sponsoring Committee
    2019 Government Street
    Baton Rouge,LA70806     		  PC General Support 25,000
    Beth-El Center
    90 New Haven Ave
    Milford,CT06460     		  PC General Support 500
    Big Brothers Big Sisters of Southwestern CT
    2470 Fairfield Ave
    Bridgeport,CT06605     		  PC General Support 1,000
    Connecticut Community Foundation
    43 Field St
    Waterbury,CT06702     		  PC General Support 1,500
    Borealis Philanthropy
    PO Box 3295
    Minneapolis,MN55403     		  PC General Support 150,000
    Boys & Girls Village
    528 Wheelers Farms Rd
    Milford,CT06461     		  PC General Support 500
    Bread and Roses Community Fund
    100 S Broad Street No 1600
    Philadelphia,PA19102     		  PC General Support 150,000
    California Forward
    127 University Ave
    Berkeley,CA94710     		  PC Project-Based 75,000
    Calumet All Sports Booster Club
    PO Box 295
    Calumet,MI49913     		  PC General Support 100
    Calumet Art Center
    57055 Fifth Street
    Calumet,MI49913     		  PC General Support 100
    Calvert Impact Capital Inc
    7315 Wisconsin Ave Suite 1000W
    Bethesda,MD20814     		  PC Project-Based 75,000
    Capital Impact Partners
    1400 Crystal Drive Suite 500
    Arlington,VA22202     		  PC Enterprise Capital 1,500,000
    Capital Impact Partners
    1400 Crystal Drive Suite 500
    Arlington,VA22202     		  PC Enterprise Capital 2,000,000
    CDP North America Inc
    127 West 26th Street Suite 300
    New York,NY10001     		  PC General Support 2,000
    Children's Center of New Milford Inc
    11 A Aspetuck Avenue
    New Milford,CT06776     		  PC General Support 1,500
    Chinook Fund Inc
    1031 33rd Street Suite 237
    Denver,CO80205     		  PC General Support 79,000
    Church of the Resurrection
    PO Box 206
    Little Switzerland,NC28749     		  PC General Support 1,500
    Church of the Resurrection
    PO Box 206
    Little Switzerland,NC28749     		  PC General Support 1,500
    City Seed Inc
    817 Grand Avenue No 101
    New Haven,CT06511     		  PC General Support 500
    Coastal Enterprises Inc
    30 Federal Street
    Brunswick,ME04011     		  PC Enterprise Capital 50,000
    Coastal Enterprises Inc
    30 Federal Street
    Brunswick,ME04011     		  PC General Support 150,000
    College of Charleston Foundation
    66 George Street
    Charleston,SC29424     		  PC Project-Based 42,000
    Committee Encouraging Corporate Philanthropy
    85 Broad Street 27th Floor
    New York,NY10004     		  PC General Support 150,000
    Common Counsel Foundation
    1624 Franklin Street STE 1022
    Oakland,CA94612     		  PC General Support 150,000
    Community Culinary School of Northwestern Connecticut
    40 Main St
    New Milford,CT06776     		  PC General Support 1,500
    Confluence Philanthropy
    54 W 40th St Ste 1129
    New York,NY10018     		  PC Membership 7,500
    Connecticut Voices for Children Inc
    33 Whitney Ave First Floor
    New Haven,CT06510     		  PC General Support 1,000
    Connecticut Women's Education and Legal Fund Inc
    75 Charter Oak Avenue Suite 1-300
    Hartford,CT06106     		  PC General Support 1,000
    Copper Country Angel Mission
    119 5th St
    Calumet,MI49918     		  PC General Support 500
    Crossroads Fund Inc
    3411 West Diversey 20
    Chicago,IL60647     		  PC General Support 100,000
    Cypress Hills Local Development Corporation Inc
    625 Jamaica Avenue
    Brooklyn,NY11208     		  PC General Support 800
    Delbarton School
    230 Mendham Road
    Morristown,NJ07960     		  PC General Support 1,000
    Diakonos Solutions Corporation
    423 Orchard Pass Ave
    Ponte Vedra,FL32081     		  PC General Support 3,000
    Diakonos Solutions Corporation
    423 Orchard Pass Ave
    Ponte Vedra,FL32081     		  PC General Support 2,000
    Diakonos Solutions Corporation
    423 Orchard Pass Ave
    Ponte Vedra,FL32081     		  PC General Support 3,500
    Ecotrust
    721 NW 9th Avenue Suite 200
    Portland,OR97209     		  PC General Support 25,000
    Feed My Starving Children Inc
    401 93rd Avenue NW
    Coon Rapids,MN55433     		  PC General Support 2,500
    Foundation for Louisiana
    4354 S Sherwood Forest Blvd Suite
    200
    Baton Rouge,LA70816     		  PC General Support 150,000
    Fresno Economic Opportunities Commission
    1920 Mariposa Street Suite 300
    Fresno,CA93721     		  PC Project-Based 100,000
    Fresno Metropolitan Ministry
    3845 North Clark Street Suite 101
    Fresno,CA93726     		  PC General Support 70,000
    Friends of Brooklyn Collaborative Studies Inc
    610 Henry Street
    Brooklyn,NY11231     		  PC General Support 500
    Friends of Morrill Homestead
    PO Box 98
    Strafford,VT05072     		  PC General Support 4,000
    Frost Valley YMCA
    2000 Frost Valley Road
    Claryville,NY12725     		  PC General Support 2,000
    Fund For Southern Communities Inc
    4153-C Flat Shoals PKWY 314
    Decatur,GA30034     		  PC General Support 50,000
    Girl Scouts of the USA
    420 Fifth Avenue
    New York,NY10018     		  PC General Support 2,000
    Global Impact Investing Network
    One Battery Park Plaza 2nd Floor
    New York,NY10004     		  PC Membership 20,000
    Good Child Development Center
    170 Old Point Road
    Milford,CT06460     		  PC General Support 500
    Good Jobs First
    1380 Monroe St NW PMB 405
    Washington,DC20010     		  PC General Support 50,000
    Good Shepherd Food Bank
    PO Box 1807
    Auburn,ME04211     		  PC General Support 95,000
    Greater Minneapolis Crisis Nursery
    4544 4th Avenue South
    Minneapolis,MN55419     		  PC General Support 500
    Groundswell Fund
    548 Market Street 49734
    San Francisco,CA94104     		  PC General Support 150,000
    Guilford Free Public Library Asso Inc
    67 Park Street
    Guilford,CT06437     		  PC General Support 2,000
    Gulf of Maine Research Institute
    350 Commercial St
    Portland,ME04101     		  PC General Support 120,000
    Gulf of Maine Research Institute
    350 Commercial St
    Portland,ME04101     		  PC General Support 2,500
    Hartford Stage
    50 Church Street
    Hartford,CT06103     		  PC General Support 1,000
    Hawai'i Peoples Fund
    PO Box 4163
    Honolulu,HI96812     		  PC General Support 65,000
    Haymarket People's Fund Inc
    42 Seaverns Avenue
    Jamaica Plain,MA02130     		  PC General Support 120,000
    Headwaters Foundation for Justice
    2801 21st Avenue S Stre 132-B
    Minneapolis,MN55407     		  PC General Support 150,000
    Hispanic Catholic Charismatic Center of the Archdiocese of New York
    826 E 166th Street
    Bronx,NY10459     		  PC General Support 4,000
    Hooker County Community Foundation Inc
    PO Box 66
    Mullen,NE69152     		  PC General Support 3,000
    Hope Autism Foundation
    5 Lyons Mall Box 122
    Basking Ridge,NJ07920     		  PC General Support 5,000
    Hope Enterprise Corporation
    4 Old River Place
    Jackson,MS39202     		  PC General Support 140,000
    Ice Foundation Inc
    PO Box 370
    New York,NY10009     		  PC General Support 800
    Impact Capital Managers Institute Inc
    620 8th Avenue 17th Floor
    New York,NY10018     		  PC General Support 50,000
    Incourage Community Foundation Inc
    478 East Grand Ave
    Wisconsin Rapids,WI54494     		  PC General Support 500
    INSPIRICA INC
    141 Franklin St
    Stamford,CT06901     		  PC General Support 375
    Integrated Refugee and Immigrant Services Inc
    235 Nicoll Street 2nd Floor
    New Haven,CT06511     		  PC General Support 500
    Jackson Medical Mall Foundation
    350 W Woodrow Wilson Ave Suite 101
    Jackson,MS39213     		  PC Project-Based 50,000
    JACKSON METRO SPONSORING COMMITTEE
    1770 Ellis Avenue
    Jackson,MS39204     		  PC General Support 43,000
    Joyce Theater Foundation Inc
    175 Eighth Avenue
    New York,NY10011     		  PC General Support 1,000
    Jubilee Gift Galaxy Inc
    6655 Moore Drive
    Oakland,CA94611     		  PC General Support 50,000
    Keweenaw Community Forest Company
    PO Box 300
    Mohawk,MI49950     		  PC General Support 200
    Keweenaw Economic Development Alliance
    600 E Lakeshore Drive
    Houghton,MI49931     		  PC General Support 500
    KIPP Team and Family Schools Inc
    60 PARK PL STE 802
    Newark,NJ07102     		  PC General Support 1,000
    Lambda Legal Defense and Education Fund Inc
    120 Wall Street 19th Fl
    New York,NY10005     		  PC General Support 1,000
    Leadership Counsel for Justice and Accountability
    2210 San Joaquin Street
    Fresno,CA93721     		  PC General Support 100,000
    Lever Inc
    85 Main St Suite 218
    North Adams,MA01247     		  PC General Support 5,000
    Liberty Hill Foundation
    6420 Wilshire Blvd NO 700
    Los Angeles,CA90048     		  PC General Support 150,000
    Locus Impact Investing
    7814 Carousel Lane
    Richmond,VA23294     		  PC General Support 150,000
    Main Street Calumet Inc
    PO Box 188
    Calumet,MI49913     		  PC General Support 500
    Maine Development Foundation
    2 Beech St Unit 203
    Hallowell,ME04347     		  PC General Support 40,000
    Maine Initiatives Inc
    56 North Street Suite 100
    Portland,ME04101     		  PC General Support 100,000
    Maine Initiatives Inc
    56 North Street Suite 100
    Portland,ME04101     		  PC General Support 1,500
    Maine Initiatives Inc
    56 North Street Suite 100
    Portland,ME04101     		  PC General Support 1,000
    Maine Philanthropy Center
    PO Box 9301
    Portland,ME04104     		  PC Membership 5,300
    Make the Road New York
    301 Grove Street
    Brooklyn,NY11237     		  PC General Support 800
    Marquette Community Foundation
    PO Box 37
    Marquette,MI49855     		  PC General Support 5,000
    McKenzie River Gathering Foundation
    PO Box 12489
    Portland,OR97212     		  PC General Support 50,000
    Metro IAF Inc
    89-60 164th Street
    Jamaica,NY11432     		  PC General Support 55,000
    Mission Investors Exchange
    105 W 86th Street 358
    New York,NY10024     		  PC Membership 100,000
    Morrill Memorial Library
    PO Box 110
    Straffford,VT05072     		  PC General Support 3,000
    Na'ah Illahee Fund
    PO Box 17844
    Seattle,WA98127     		  PC General Support 75,000
    Network Impact Inc
    25 Sigourney Street
    Boston,MA02130     		  NC Project-Based 70,000
    New Breath Foundation
    1999 Harrison Street
    Oakland,CA94612     		  PC General Support 50,000
    New Milford Barracudas Parents Association Inc
    PO Box 2196
    New Milford,CT06776     		  PC General Support 1,600
    New Milford Barracudas Parents Association Inc
    PO Box 2196
    New Milford,CT06776     		  PC General Support 2,000
    New Milford Economic Development Corporation
    PO Box 387
    New Milford,CT06776     		  PC General Support 5,000
    New York University
    PO Box 837 Peter Stuyvesant Station
    New York,NY100090837     		  PC Project-Based 100,000
    New York University
    PO Box 837 Peter Stuyvesant Station
    New York,NY100090837     		  PC Project-Based 20,000
    Next City Inc
    PO Box 22449
    Philadelphia,PA19110     		  PC General Support 50,000
    North Star Fund Inc
    520 Eighth Avenue 2203
    New York,NY10018     		  PC General Support 125,000
    Northwest Connecticut Land Conservancy
    Post Office Box 821
    Kent,CT06757     		  PC General Support 1,650
    Northwest Connecticut Land Conservancy
    Post Office Box 821
    Kent,CT06757     		  PC General Support 1,500
    Omega House Inc
    2211 Maureen Lane
    Houghton,MI49931     		  PC General Support 500
    Open Channels New York Inc
    161A Chrystie Street
    New York,NY10002     		  PC General Support 500
    Open Possibilities dba Possibility Labs
    1410 Franklin Street Num 135
    San Francisco,CA941090000     		  PC Project-Based 500,000
    Open Possibilities dba Possibility Labs
    1410 Franklin Street Num 135
    San Francisco,CA941090000     		  PC Project-Based 163,500
    Paula Ellis Strategies LLC
    482 Elfes Field Lane
    Charleston,SC29492     		  NC Project-Based 75,000
    Philadelphia Clef Club of Jazz & Performing Arts Inc
    PO Box 752
    Glenside,PA19038     		  PC General Support 2,000
    Philadelphia Ronald MCDonald House Inc
    3925 Chestnut Street
    Philadelphia,PA19104     		  PC General Support 5,000
    Pilobolus Inc
    PO Box 388 6 Calhoun St
    Washington,CT06794     		  PC General Support 750
    Portland Stage Company Inc
    25 Forest Ave
    Portland,ME04104     		  PC General Support 2,000
    Portland Stage Company Inc
    25 Forest Ave
    Portland,ME04104     		  PC General Support 8,500
    Potlatch Fund
    801 Second Avenue No 304
    Seattle,WA98104     		  PC General Support 130,000
    Pratt Nature Center Inc
    163 Paper Mill Rd
    New Milford,CT06776     		  PC General Support 1,500
    Preble Street
    38 Preble Street
    Portland,ME04101     		  PC General Support 1,500
    Preble Street
    38 Preble Street
    Portland,ME04101     		  PC General Support 10,000
    QueerArt Inc
    140 2nd Ave 503
    New York,NY10003     		  PC General Support 1,000
    Rape Crisis Center of Milford
    70 West River Street
    Milford,CT06460     		  PC General Support 500
    Red Hook Art Project Inc
    27 Huntington Street Room 151
    Brooklyn,NY11231     		  PC General Support 3,500
    Red Hook Initiative Inc
    767 Hicks Street
    Brooklyn,NY11231     		  PC General Support 5,000
    Red Hook Playgroup
    295 Columbia Street
    Brooklyn,NY11231     		  PC General Support 2,000
    Schumacher Center for a New Economics
    140 Jug End Road
    Great Barrington,MA01230     		  PC General Support 30,000
    Search Ministries Inc
    7400 Metro Blvd Suite 210
    Edina,MN55439     		  PC General Support 1,000
    Second Harvest Heartland
    1140 Gervais Avenue
    Maplewood,MN55109     		  PC General Support 2,500
    Self-Help Enterprises
    P O Box 6520
    Visalia,CA932906520     		  PC General Support 150,000
    Seventh Generation Fund for Indigenous Peoples Inc
    PO Box 4569
    Arcata,CA95518     		  PC General Support 150,000
    SilverSource Inc
    2009 Summer Street
    Stamford,CT06905     		  POF General Program Support 375
    Social Justice Fund Northwest
    1904 3rd Avenue NO 806
    Seattle,WA98101     		  PC General Support 125,000
    Solutions Project Inc
    4096 Piedmont Avenue No 728
    Oakland,CA94611     		  PC General Support 100,000
    South OrangeMaplewood Community Coalition on Race
    516 Prospect St
    Maplewood,NJ07040     		  PC General Support 2,000
    Southern Partners Fund Inc
    1 Baltimore Place NW Suite 150
    Atlanta,GA30308     		  PC General Support 75,000
    Springboard To Opportunities
    3000 Old Canton Rd Suite 470
    Jackson,MS39216     		  PC General Support 100,000
    St Josephs Social Service Center
    118 Division St
    Elizabeth,NJ07201     		  PC General Support 5,000
    St Louis University High School
    4970 Oakland Avenue
    St Louis,MO63110     		  PC General Support 2,500
    Stamford Spartans Youth Football
    105 Harbor Dr Apt 117
    Stamford,CT06902     		  PC General Support 1,000
    Strafford Historical Society Inc
    PO Box 100
    Strafford,VT05072     		  PC General Support 4,000
    The Aspen Institute Inc
    2300 N Street NW Suite 700
    Washington,DC200371122     		  PC General Support 2,000
    The Campaign Against Hunger Inc
    2010 Fulton Street
    Brooklyn,NY11233     		  PC General Support 800
    The Genesis Fund
    22 Lincoln Street
    Brunswick,ME04011     		  PC General Support 100,000
    The Good Grocer
    2650 Nicollet Ave
    Minneapolis,MN55408     		  PC General Support 1,000
    The Haitian Project Inc
    PO Box 6891
    Providence,RI02940     		  PC General Support 2,000
    The Haitian Project Inc
    PO Box 6891
    Providence,RI02940     		  PC General Support 500
    The Initiative for Responsible Investment at the Hauser Institute for Civil
    79 John F Kennedy St
    Cambridge,MA02138     		  PC Project-Based 75,000
    The League of Intrapreneurs Ltd
    300 SW 5th Street 2900
    Portland,OR97201     		  PC General Support 100,000
    The Lincoln Institute of Land Policy
    113 Brattle Street
    Cambridge,MA021383400     		  POF Project-Based 150,000
    The Macedonia Baptist Church of Mount Vernon New York Inc
    141 S 9th Ave
    Mt Vernon,NY10550     		  PC General Support 250
    The Nonprofit Information Networking Association dba The Nonprofit Quarterl
    88 Broad Street Suite 101
    Boston,MA02110     		  PC General Support 100,000
    The Underground Museum Inc
    3508 W Washington Blvd
    Los Angeles,CA90018     		  PC General Support 500
    The Vermont Community Foundation
    3 Court Street
    Middlebury,VT05753     		  PC Pass-Through 25,000
    TreeHouse Inc
    5757 Wayzata Blvd
    Minneapolis,MN55416     		  PC General Support 2,000
    Twin Cities Habitat for Humanity Inc
    1954 University Avenue W
    St Paul,MN55104     		  PC General Support 1,000
    United Community Centers Inc
    613 New Lots Avenue
    Brooklyn,NY11207     		  PC General Support 800
    Urban Bush Women Inc
    138 S Oxford St Suite 4B
    Brooklyn,NY11217     		  PC General Support 1,000
    Urban Ventures Leadership Foundation
    2924 Fourth Avenue South
    Minneapolis,MN554082438     		  PC General Support 2,000
    Village Center for the Arts Inc
    12 Main St
    New Milford,CT06776     		  PC General Support 1,500
    Vital Communities Inc
    195 N Main St
    White River Junction,VT05001     		  PC General Support 4,000
    Water Witch Hose Company #2
    8 Prospect Hill Road
    New Milford,CT06776     		  PC General Support 2,000
    Westmont College
    955 La Paz Road
    Santa Barbara,CA93108     		  PC General Support 5,000
    World Foundation for Girl Guides and Girl Scouts
    420 Fifth Avenue
    New York,NY10018     		  PC General Support 1,000
    World Vision Inc
    PO Box 9716
    Federal Way,WA98063     		  PC General Support 2,000
    Young Life
    PO Box 520
    Colorado Springs,CO80901     		  PC General Support 2,000
    Total .................................bullet 3a 10,179,700
    bApproved for future payment
    Common Future
    2323 Broadway
    Oakland,CA94612     		  PC General Support 150,000
    California Forward
    127 University Ave
    Berkeley,CA94710     		  PC Project-Based 75,000
    Committee Encouraging Corporate Philanthropy
    85 Broad Street 27th Floor
    New York,NY10004     		  PC General Support 150,000
    Good Jobs First
    1380 Monroe St NW PMB 405
    Washington,DC20010     		  PC General Support 50,000
    Locus Impact Investing
    7814 Carousel Lane
    Richmond,VA23294     		  PC General Support 150,000
    Total .................................bullet 3b 575,000
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments ....          
    3 Interest on savings and temporary cash
    investments ...........     		         
    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 22,857,070  
    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) .. 0 28,210,769 77,891
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    28,288,660
    (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.)
    1 LICENSING REVENUE FROM US COMMUNITY INVESTING INDEX
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 13
    Part XVI
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
    b
    If "Yes," complete the following schedule.

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


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


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    OUTSOURCED CONTROLLER 29,800 0   35,400
    AUDIT 39,425 5,925   54,743

    TY 2021 AllOthProgRltdInvestmentsSch
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category Amount
    OPTUS 150,000
    VARIOUS 75,545

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    NETWORK IMPACT INC
          		25 SIGOURNEY STREET
    BOSTON,MA02130     		2021-03-09 70,000 Drawing on existing research and potential interviews with selected leaders, Network Impact will develop a framework for understanding: (1) collective agency; (2) how it is built, and (3) what role it has played in different community contexts. While their work will be made broadly available to the field, along with Kelly Ryan and Onyeka Obiocha, Madeleine Taylor will co-lead a process of internal learning at Heron about historical conditions that foster or impede a sense of collective agency in place. She will also lead a series of conversations with Heron leadership about the potential benefits of bringing an ethnographic lens to Heron's assessments of communities. 70,000 NO      
    PAULA ELLIS STRATEGIES
          		482 ELLIS STATEGEIES LLC
    CHARLESTON,SC29492     		2021-06-15 75,000 Project support to further community building through examining the role of news and information in community transformation 75,000 NO      
    LINCOLN INSTITUTE OF LAND POLICY
          		113 BRATTLE STREET
    CAMBRIDGE,MA02138     		2021-12-02 150,000 To help define what a healthy community development ecosystem looks like and to help identify investment opportunities within communities. 15,000 NO      
    SILVER SOURCE INC
          		2009 SUMMER STREET
    STAMFORD,CT06905     		2021-12-03 375 PROGRAM SUPPORT 375 NO      

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Name of Bond End of Year Book Value End of Year Fair Market Value
    CORPORATE ISSUES 3,516,369 3,516,369

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Name of Stock End of Year Book Value End of Year Fair Market Value
    STOCK INVESTMENTS 244,743,188 244,743,188
    COMMUNITY INDEX COMMINGLED FUND 16,796,081 16,796,081

    TY 2021 InvestmentsGovtObligationsSch
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    US Government Securities - End of Year Book Value:

    33,545,707
    US Government Securities - End of Year Fair Market Value:

    33,545,707
    State & Local Government Securities - End of Year Book Value:


    51,180,182
    State & Local Government Securities - End of Year Fair Market Value:


    51,180,182


    TY 2021 InvestmentsOtherSchedule2
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    MISSION RELATED LIMITED PARTNERSHIPS FMV 20,626,028 20,626,028
    ISHARES MSCI FMV 16,605,312 16,605,312

    TY 2021 LegalFeesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    LEGAL SERVICES 29,131 0   29,131


    TY 2021 OtherAssetsSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    PROGRAM RELATED INVESTMENTS 13,585,326 14,640,097 14,640,097


    TY 2021 OtherExpensesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    CUSTODY FEES 134,758 134,758   0
    EQUIPMENT AND EQUIPMENT REPAIR 34,073 5,120   28,953
    OFFICE EXPENSES 148,112 3,482   121,561
    INSURANCE 27,583 4,145   23,268
    BANK FEES 2,581 0   2,581
    MARKET DATA 215,849 184,110   33,154
    TEMPORARY ADMIN SUPPORT 15,300 0   15,300


    TY 2021 OtherIncomeSchedule2
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    CONTRACT FEE 77,891   77,891


    TY 2021 OtherIncreasesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Description Amount
    CHANGE IN UNREALIZED APPRECIATION, NET OF DEFERRED TAX 39,365,418


    TY 2021 OtherLiabilitiesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Description Beginning of Year - Book Value End of Year - Book Value
    DEFERRED FEDERAL EXCISE TAX 1,071,268 1,568,119


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT ADVISORY 619,088 619,088   0
    PORTFOLIO MONITORING 300,000 255,000   45,000
    HUMAN RESOURCES 98,717 0   98,717
    PROFESSIONAL DEVELOPMENT 1,590 239   2,367
    DESKTOP AND NETWORK SUPPORT 46,559 0   46,559
    MARKETING 60,600 0   63,775
    CONSULTING AND ADVISING 536,880 142,166   525,960
    RECRUITING 11,551 0   12,747
    OTHER INVESTMENT 42,500 42,500   0


    TY 2021 TaxesSchedule
    Name:
    THE FB HERON FOUNDATION
    EIN:
    13-3647019
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXCISE 370,000 0   0