TY 2021 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0047

2021

Open to Public Inspection

For calendar year 2021, or tax year beginning 08-01-2021 , and ending 07-31-2022

Name of foundation
Bernard and Sandra Otterman Foundation

% Foundation Source

Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377

A Employer identification number

26-0705785

B Telephone number (see instructions)

(800) 839-1754

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$6,335,831J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)	0
2	Check .............
3	Interest on savings and temporary cash investments	499		499
4	Dividends and interest from securities...	132,734		130,234
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		227,612
b	Gross sales price for all assets on line 6a 1,523,005
7	Capital gain net income (from Part IV, line 2)...			227,612
8	Net short-term capital gain.........
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......
12	Total. Add lines 1 through 11........	360,845		358,345
13	Compensation of officers, directors, trustees, etc.	0
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....		18,765	18,765
17	Interest...............
18	Taxes (attach schedule) (see instructions)...		10,058	5,458
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......		31,373	718	30,655
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	60,196		24,941	30,655
25	Contributions, gifts, grants paid.......	198,020			198,020
26	Total expenses and disbursements. Add lines 24 and 25	258,216		24,941	228,675
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	102,629
b	Net investment income (if negative, enter -0-)			333,404
c	Adjusted net income (if negative, enter -0-)...

For Paperwork Reduction Act Notice, see instructions.

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

Form 990-PF (2021)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	252,895	409,973	409,973
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	595,065	624,816	607,375
	b	Investments—corporate stock (attach schedule).......	2,617,868	2,838,497	4,125,525
	c	Investments—corporate bonds (attach schedule).......	1,548,712	1,243,883	1,192,958
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )	5,072	5,072
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	5,019,612	5,122,241	6,335,831
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	5,019,612	5,122,241
	29	Total net assets or fund balances (see instructions).....	5,019,612	5,122,241
	30	Total liabilities and net assets/fund balances (see instructions).	5,019,612	5,122,241

Part III

Analysis of Changes in Net Assets or Fund Balances

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

5,019,612

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

102,629

Other increases not included in line 2 (itemize) bullet

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

5,122,241

Decreases not included in line 2 (itemize) bullet

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

5,122,241

Form 990-PF (2021)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	Publicly-traded Securities
b
c
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	1,523,005	1,295,393	227,612
b
c
d
e

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			227,612
b
c
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	227,612
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Form 990-PF (2021)

Page 4

Part V

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	4,634
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	4,634
6	Credits/Payments:

a	2021 estimated tax payments and 2020 overpayment credited to 2021	6a	3,457
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	1,200
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	4,657
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	23
11	Enter the amount of line 10 to be: Credited to 2022 estimated tax23	Refunded	11

Part VI-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

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

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

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

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

Form 990-PF (2021)

Page 5

Part VI-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

The books are in care of bullet

Foundation Source Telephone no. bullet

(800) 839-1754

Located at bullet

501 Silverside Road Suite 123WilmingtonDE ZIP+4 bullet

198091377

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

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

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

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

16 No

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

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

1a(1)

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

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

1a(2)

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

1a(3)

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

1a(4)

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

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

1a(5)

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

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

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

1a(6)

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

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

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

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

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

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

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

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

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

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

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

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

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

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

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

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

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

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

Form 990-PF (2021)

Page 6

Part VI-B

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

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

Yes

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

5a(1)

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

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

5a(2)

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

5a(3)

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

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

5a(4)

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

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

5a(5)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Sharon Otterman Agashiwala	Dir, Sec 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Sec 1.0	0	0	0
Michelle Emmett	Dir, Vice-Chair 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Vice-Chair 1.0	0	0	0
Michael Otterman	Treas 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Treas 1.0	0	0	0
Sandra Otterman	Dir, Pres 1.0	0	0	0
Foundation Source 501 Silverside Rd Wilmington,DE198091377	Dir, Pres 1.0	0	0	0

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


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










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

Form 990-PF (2021)

Page 7

Part VII

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

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

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

Part VIII-A

Summary of Direct Charitable Activities

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


2


3


4

Part VIII-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2021)

Page 8

Part IX

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

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

purposes:

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

6,457,831

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

281,079

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

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

6,738,910

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

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

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

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

6,738,910

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

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

101,084

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

6,637,826

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

331,891

Part X

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

and do not complete this part.)

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

331,891

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

4,634

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

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

4,634

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

327,257

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

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

327,257

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

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

327,257

Part XI

Qualifying Distributions (see instructions)

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

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

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

Form 990-PF (2021)

Page 9

Part XII

Undistributed Income (see instructions)

		(a) Corpus	(c) 2020	(d) 2021
1 Distributable amount for 2021 from Part X, line 7				327,257
2 Undistributed income, if any, as of the end of 2021:
a Enter amount for 2020 only.......			220,397
b Total for prior years:2019, 2018, 2017
3 Excess distributions carryover, if any, to 2021:
a From 2016......
b From 2017......
c From 2018......
d From 2019......
e From 2020......
f Total of lines 3a through e ........
4Qualifying distributions for 2021 from Part
XI, line 4: $ 228,675
a Applied to 2020, but not more than line 2a			220,397
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2021 distributable amount.....				8,278
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2021.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2019. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2021. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2022 ..........				318,979
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2016 not applied on line 5 or line 7 (see instructions) ...
9 Excess distributions carryover to 2022. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2017....
b Excess from 2018....
c Excess from 2019....
d Excess from 2020....
e Excess from 2021....	0

Form 990-PF (2021)

Page 10

Part XIII

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

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

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

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

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

Part XIV

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

1Information Regarding Foundation Managers:

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

NONE

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

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2021)

Page 11

Part XIV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
AMERICAN CANCER SOCIETY INC PO BOX 22718 OKLAHOMA CITY,OK73123	N/A	PC	Rwanda Pain Free Hospital Initiative	35,000
CENTER FOR CIVILIANS IN CONFLICT PO BOX 33252 WASHINGTON,DC20036	N/A	PC	Civilian Harm Mitigation Playbook for Lesson Planners 2.0	25,000
CENTER FOR HIGHER EDUCATION IN THE MIDDLE EAST INC 45 PROSPECT ST CAMBRIDGE,MA02139	N/A	PC	General & Unrestricted	10,000
COLLABORATIVE FOR ACADEMIC SOCIAL AND EMOTIONAL LE 815 W VAN BUREN ST STE 210 CHICAGO,IL60607	N/A	PC	General & Unrestricted	40,000
CRAFT EMERGENCY RELIEF FUND INC PO BOX 838 MONTPELIER,VT05601	N/A	PC	General & Unrestricted	500
DIRECT RELIEF 6100 WALLACE BECKNELL RD SANTA BARBARA,CA93117	N/A	PC	General & Unrestricted	2,500
FACING HISTORY AND OURSELVES INC PO BOX 470749 BROOKLINE,MA02447	N/A	PC	General & Unrestricted	50,000
KRATT BROTHERS CREATURE HERO SOCIETY PO BOX 475 STOWE,VT05672	N/A	PC	General & Unrestricted	1,000
NEO PHILANTHROPY INC 45 WEST 36TH ST 6TH FLOOR NEW YORK,NY10018	N/A	PC	Peace and Security Funders Group for 2022 Membership Support	520
NEW ISRAEL FUND PO BOX 70358 PHILADELPHIA,PA19176	N/A	PC	General & Unrestricted	15,000
POLLINATE GROUP 774 ARROYO RD LOS ALTOS,CA94024	N/A	PC	Micro Entrepreneurship Training Program - India	10,000
SUNNYSIDE COMMUNITY SERVICES INC 4331 39TH ST SUNNYSIDE,NY11104	N/A	PC	General & Unrestricted	1,000
THE TREVOR PROJECT INC PO BOX 69232 WEST HOLLYWOOD,CA90069	N/A	PC	General & Unrestricted	5,000
WILDLIFE CONSERVATION SOCIETY 2300 SOUTHERN BLVD BRONX,NY10460	N/A	PC	General & Unrestricted	2,500
Total ................................. 3a				198,020

bApproved for future payment

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

Form 990-PF (2021)

Page 12

Part XV-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments ....
3 Interest on savings and temporary cash investments ...........			14	499
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	227,612
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) ..				360,845

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

360,845

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

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2021)

Page 13

Part XVI

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2021)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

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

TY 2021 DepreciationSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Description of Property	Date Acquired	Cost or Other Basis	Prior Years' Depreciation	Computation Method	Rate / Life (# of years)	Current Year's Depreciation Expense	Net Investment Income	Adjusted Net Income	Cost of Goods Sold Not Included

- TIN:

TY 2021 InvestmentsCorpBondsSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABS BOND - 3.750% - 11	10,779	10,265
ABBVIE INC - 4.250% - 11/14/20	11,390	10,199
ALEXANDRIA REAL ESTATE - 4.900	6,040	5,128
AMERICAN ELEC PWR INC - 1.000%	9,814	9,087
AMERICAN EXPRESS CO - 2.500% -	10,121	9,796
AMERICAN TOWER CORP - 3.125% -	5,344	4,772
AMGEN INC - 2.200% - 02/21/202	10,310	9,490
ANHEUSER-BUSCH - 3.650% - 02/0	10,012	10,060
ANTHEM INC NOTE - 3.650% - 12/	9,926	10,036
AON CORP - 2.800% - 05/15/2030	10,898	9,056
BK OF AMERICA CORP SER N MTN -	15,091	13,067
BMO HARRIS BK - 0.500% - 02/27	189,999	176,407
BOSTON PPTYS - 3.800% - 02/01/	5,075	4,998
CARRIER GLOBAL CORP - 2.242% -	5,178	4,828
CHUBB INA HOLDINGS INC - 1.375	4,734	4,147
CITIGROUP INC NOTE - 3.668% -	14,794	14,528
COMCAST CORP - 3.150% - 03/01/	14,781	14,922
COMENITY CAP BK - 2.700% - 04/	75,000	74,966
CONNECTICUT GREEN BK TAXABLE -	15,000	14,432
CVS CAREMARK CORP NOTE - 4.300	11,793	10,165
DISNEY WALT CO - 2.000% - 09/0	14,669	13,374
ENBRIDGE INC BOND - 4.000% - 1	5,221	5,012
EQUINIX INC NOTE CALL MAKE WHO	5,250	4,615
EQUINOR ASA - 3.125% - 04/06/2	11,317	9,655
EVERSOURCE ENERGY - 1.650% - 0	9,303	8,291
GENERAL MLS INC - 4.200% - 04/	10,510	10,235
GOLDMAN SACHS BANK - 2.700% -	80,000	79,970
GOLDMAN SACHS BANK - 2.800% -	80,000	79,386
GOLDMAN SACHS BANK - 3.000% -	80,000	78,661
GOLDMAN SACHS GROUP INC - 4.00	10,210	10,072
HOME DEPOT INC - 2.950% - 06/1	16,971	14,470
HOUSTON TX TAX SR B - 1.314% -	15,000	13,837
INTEL CORP NOTE CALL MAKE WHOL	10,347	10,141
JPMORGAN CHASE &CO - 3.782% -	15,163	14,735
LINCOLN NATL CORP - 3.050% - 0	4,816	4,530
MICROSOFT CORP NOTE CALL - 2.8	20,144	20,013
MORGAN STANLEY SER I MTN CALL	9,920	9,107
NEXTERA ENERGY CAP HLDGS INC B	10,038	9,248
PNC FINL SVCS - 3.500% - 01/23	10,215	10,035
PROLOGIS LP - 1.250% - 10/15/2	9,552	8,245
SALESFORCE COM INC NOTE CALL M	9,908	8,886
SCHLUMBERGER - 3.650% - 12/01/	10,426	10,081
SEMPRA ENERGY NOTE 3.4% 02/01/	10,766	9,749
SHELL INT'L FINANCE - 2.875% -	14,859	14,739
SIMON PPTY GROUP LP - 3.375% -	10,306	9,939
STATE STR CORP NOTE - 2.354% -	5,085	4,867
SUMITOMO MITSUI FINANCIAL GROU	5,423	5,030
TIME WARNER COS INC - 8.300% -	66,364	65,151
TORONTO DOMINION BANK - 0.750%	14,525	13,630
UNITED STATES TREAS SER AH-202	14,531	13,815
UNITEDHEALTH GROUP INC - 3.750	17,230	15,287
VERIZON COMMUNICATIONS INC - 2	9,736	8,900
WELLS FARGO BK - 2.700% - 04/1	40,000	39,985
WELLS FARGO BK - 2.800% - 04/1	139,999	138,918

- TIN:

TY 2021 InvestmentsCorpStockSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC	29,203	42,479
ADOBE SYSTEMS, INC	27,434	27,068
ADVANCED MICRO DEVICES INC	20,862	25,035
AKAMAI TECH COM STK	69,852	65,141
ALCON INC	19,206	26,473
AMAZON COM	117,207	197,026
AMERIPRISE FINANCIAL INC	24,135	49,935
APPLE INC	80,079	910,055
APTIV PLC	23,432	38,075
ASHTEAD GROUP PLC	13,610	28,801
ASTRAZENECA	39,305	45,301
AXA ADS	52,884	43,917
BAUSCH + LOMB CORP	15,131	11,095
BIO RAD LABS INC CL A	20,053	40,555
CADENCE DESIGN SYSTEMS INC	24,260	34,239
CANADIAN PACIFIC RAILWAY LTD	55,712	59,547
COSTCO WHOLESALE CORPORATION	91,859	255,493
ECOLAB INC	37,188	36,337
ELECTRONIC ARTS	25,767	33,070
ELI LILLY & CO	22,539	45,827
EQUINOR ASA	43,886	82,274
ERSTE GROUP BANK AG	18,339	19,552
FIDELITY NATIONAL INFORMATION	33,317	30,342
GENMAB A/S SPON	15,570	28,532
GROUPE DANONE ADS	28,752	20,657
HESS CORP	25,478	51,399
HSBC HOLDINGS PLC	19,098	18,149
ILLUMINA INC COM	50,708	43,336
INGERSOLL-RAND INC	28,163	44,969
INTEL CORP	51,780	36,310
JP MORGAN CHASE PFD SER GG	99,292	87,400
KNORR BREMSE AG EUR	47,857	22,138
KONINKLIJKE PHILIPS ELECTRONIC	36,976	18,728
LABORATORY CORP AMER HLDGS	15,923	21,762
LAIDLAW INTL	16,274	16,584
LINDE PLC COM	37,536	61,306
LONDON STOCK EXCH LTD	57,981	55,860
MARSH AND MCLENNAN COMPANIES I	23,038	40,662
MEDTRONIC PLC	14,365	13,138
METSO OUTOTEC CORP	36,274	30,242
MICHELIN SCA	36,321	25,545
MICRON TECHNOLOGY	15,988	24,373
MICROSOFT CORP	43,540	105,558
MONTROSE ENVIRONMENTAL GRP ORD	25,054	27,763
MSA SAFETY INCORPORATED	18,579	23,101
NIPPON TELEGRAPH & TELEPHONE C	15,103	17,334
NXP SEMICONDUCTORS	9,448	13,055
OKTA INC	25,616	13,783
ON SEMICONDUCTOR	17,617	19,433
PING AN INSURANCE GROUP ADR	26,911	14,970
PROCTER GAMBLE CO	12,750	15,280
PRYSMIAN SPA	17,858	25,265
PT BK MANDIR PRS UNSP/ADR	22,026	28,838
PUBLIC STORAGE DEP	99,815	89,688
REGAL REXNORD CORP	12,470	13,430
RIVIAN AUTOMOTIVE INC CL A	25,608	9,364
SAGE GROUP PLC	30,150	29,687
SALESFORCE.COM	30,954	24,107
SHOALS TECHNOLOGIES GROUP	19,211	14,816
SLM CORP	21,695	17,160
SNOWFLAKE INC	32,575	16,790
SOCIETE GENERALE SA	34,314	27,275
SOFTBANK CP UNSP ADR	40,790	30,658
SONY GROUP CORP	25,512	39,706
SPDR GOLD SHARES	100,625	131,280
SPECTRIS PLC	26,876	28,444
SPLUNK INC	27,708	22,341
STARBUCKS CORP COM	36,313	43,662
SWEETGREEN INC CL A	39,483	16,558
TECHNOPRO HOLDINGS 5 SPONSORED	15,737	19,468
TENCENT HOLDINGS LIMITED	53,131	26,327
TJX COMPANIES INC	39,566	46,420
UBISOFT ENTERTAINMENT SA	36,800	26,270
UNILEVER PLC AMER	41,788	38,149
UNITEDHEALTH GROUP INC	33,636	73,216
UNIVERSAL DISPLAY CORP	40,859	27,826
VERTEX PHARMCTLS INC	26,420	37,295
VISA INC	49,901	58,754
VMWARE INC	57,613	48,804
WELLS FARGO & CO	26,487	38,474
WESTERN DIGITAL CORP	15,324	16,449

- TIN:

TY 2021 InvestmentsGovtObligationsSch

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

US Government Securities - End of Year Book Value:

386,248

US Government Securities - End of Year Fair Market Value:

377,774

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

238,568

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

229,601

- TIN:

TY 2021 OtherAssetsSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Description	Beginning of Year - Book Value	End of Year - Book Value	End of Year - Fair Market Value
INCORPORATION FEE	5,072	5,072

- TIN:

TY 2021 OtherExpensesSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
Administrative Fees	30,630		30,630
Bank Charges	718	718
State or Local Filing Fees	25		25

- TIN:

TY 2021 OtherProfessionalFeesSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
Investment Management Services	18,765	18,765

- TIN:

TY 2021 TaxesSchedule

Name:

Bernard and Sandra Otterman Foundation

EIN:

26-0705785

Category	Amount	Net Investment Income
990-PF Estimated Tax for 2022	3,400
990-PF Extension for 2021	1,200
Foreign Tax Paid	5,458	5,458