Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
For calendar year 2022, or tax year beginning 01-01-2022 , and ending 12-31-2022
Name of foundation
Carroll Petrie Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)401 East Palace Avenue
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Santa Fe, NM875012223
A Employer identification number

13-3912203
B Telephone number (see instructions)

(212) 530-5880
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$330,846,253J 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) 820,742
2 Check right arrow.............
3 Interest on savings and temporary cash investments 9,015 9,015  
4 Dividends and interest from securities... 1,044,668 1,044,668  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 Click to see attachment
List of Attached Documents:
// Content
10,863,299
b Gross sales price for all assets on line 6a 42,785,703
7 Capital gain net income (from Part IV, line 2)... 10,883,207
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
List of Attached Documents:
// Content
9,324,296 9,360,093  
12 Total. Add lines 1 through 11........ 22,062,020 21,296,983  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 567,789 67,616   500,173
14 Other employee salaries and wages...... 526,858 0   526,858
15 Pension plans, employee benefits....... 218,492 13,496   204,996
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
187,660 48,674   138,986
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
44,661 13,118   30,043
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
370,107 300,340   69,767
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
858,003 0   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 19,109 956   18,153
21 Travel, conferences, and meetings....... 21,596 79   21,517
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
2,482,092 2,242,919   112,388
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,296,367 2,687,198   1,622,881
25 Contributions, gifts, grants paid....... 16,574,000 16,574,000
26 Total expenses and disbursements. Add lines 24 and 25 21,870,367 2,687,198   18,196,881
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 191,653
b Net investment income (if negative, enter -0-) 18,609,785
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2022)
Form 990-PF (2022)
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 Savings and temporary cash investments......... 5,306,484 5,076,315 5,076,315
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow   561,319    
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 34,490,827 Click to see attachment
List of Attached Documents:
// Content
34,637,355 		39,768,619
c Investments—corporate bonds (attach schedule)....... 16,100,006 Click to see attachment
List of Attached Documents:
// Content
28,575,704 		27,441,401
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 250,173,308 Click to see attachment
List of Attached Documents:
// Content
238,381,437 		258,492,408
14 Land, buildings, and equipment: basis right arrow67,510
Less: accumulated depreciation (attach schedule) right arrow   0 Click to see attachment
List of Attached Documents:
// Content
67,510 		67,510
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 306,631,944 306,738,321 330,846,253
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,726,840 		Click to see attachment
List of Attached Documents:
// Content
1,684,202
23 Total liabilities (add lines 17 through 22)......... 1,726,840 1,684,202
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
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 right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 304,905,104 305,054,119
29 Total net assets or fund balances (see instructions)..... 304,905,104 305,054,119
30 Total liabilities and net assets/fund balances (see instructions). 306,631,944 306,738,321
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
304,905,104
2
Enter amount from Part I, line 27a .....................
2
191,653
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
305,096,757
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
42,638
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
305,054,119
Form 990-PF (2022)
Form 990-PF (2022)
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 Capital gain distributions      
c Passthrough K-1 capital gain      
d Redemption - Kabouter International Opportunities Offshore Fund II Ltd P 2017-02-15 2022-07-12
e Redemption - Cedar Rock Capital Partners, LLC P 2017-05-15 2022-03-15
Redemption - Sanderson International Value Fund P 2017-02-15 2022-01-07
731 Gain - Distributions exceeding basis      
Redemption - Impala Fund Ltd. P 2016-11-16 2022-07-21
(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 550,000   564,343 -14,343
b 2,140,339     2,140,339
c       4,571,425
d 1,843,500   2,402,974 -559,474
e 13,814,865   13,836,908 -22,043
12,775,260   12,669,696 105,564
186,016     186,016
11,475,723   7,000,000 4,475,723
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       -14,343
b       2,140,339
c       4,571,425
d       -559,474
e       -22,043
      105,564
      186,016
      4,475,723
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 10,883,207
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 (2022)
Form 990-PF (2022)
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 right arrow 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) 1 258,676
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........................... 3 258,676
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- ..... 5 258,676
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 374,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 121,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 495,000
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 236,324
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow236,324 Refundedright arrow 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. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet 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)
right arrowNY, DE, NM
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 2022 or the taxable year beginning in 2022? 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 (2022)
Form 990-PF (2022)
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 instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowwww.carrollpetrie.org
14
The books are in care ofright arrowZach Dillenback Telephone no.right arrow (212) 530-5880

Located atright arrow401 East Palace AvenueSanta FeNM ZIP+4right arrow875012223
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, 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 right arrow
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
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
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 2022? .............
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 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?....................
2a
 
No
If "Yes," list the years right arrow20, 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.
right arrow20, 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 2022 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 2022.) .....................
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 2022? ..
4b
 
No
Form 990-PF (2022)
Form 990-PF (2022)
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
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
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
List of Attached Documents:
// Content
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
Theodora Portago President & Director
40.00 		351,042 42,811 0
401 East Palace Ave
Santa Fe,NM87501
Carolina Portago Vice President, Director & Secretary
5.00 		0 0 0
401 East Palace Ave
Santa Fe,NM87501
Camille Manning Treasurer & Director
5.00 		0 0 0
401 East Palace Ave
Santa Fe,NM87501
Zach Dillenback Assistant Treasurer & CFO
40.00 		216,747 34,838 0
401 East Palace Ave
Santa Fe,NM87501
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
Bob Reid Senior Advisor
40.00 		130,500 3,750 0
401 East Palace Ave
Santa Fe,NM87501
Jackie Hall Program Officer
40.00 		111,667 19,869 0
401 East Palace Ave
Santa Fe,NM87501
Laura Bonar Program Officer
40.00 		111,655 15,323 0
401 East Palace Ave
Santa Fe,NM87501
Joan Kelly Grants Manager
40.00 		78,417 20,095 0
401 East Palace Ave
Santa Fe,NM87501
Jennifer Pedneau Program Officer
40.00 		76,841 12,799 0
401 East Palace Ave
Santa Fe,NM87501
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2022)
Form 990-PF (2022)
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
Monticello Associates Investment advisory services 300,000
1800 Larimer St Ste 2100
Denver,CO80202
Milbank LLP Legal services 187,660
55 Hudson Yards
New York,NY10001
Edge Philanthropy LLC Consulting Services 64,613
704 Talon Ct NE
Rio Rancho,NM87144
Total number of others receiving over $50,000 for professional services.............right arrow0
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.........................right arrow0
Form 990-PF (2022)
Form 990-PF (2022)
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
72,140,816
b
Average of monthly cash balances.......................
1b
12,173,554
c
Fair market value of all other assets (see instructions)................
1c
268,488,738
d
Total (add lines 1a, b, and c).........................
1d
352,803,108
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
352,803,108
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
5,292,047
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
347,511,061
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
17,375,553
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
17,375,553
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
258,676
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
258,676
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
17,116,877
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
17,116,877
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
17,116,877
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
18,196,881
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
67,510
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
18,264,391
Form 990-PF (2022)
Form 990-PF (2022)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2021 		(c)
2021 		(d)
2022
1 Distributable amount for 2022 from Part X, line 7 17,116,877
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 17,920,033
b Total for prior years:20, 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2017......  
b From 2018......  
c From 2019......  
d From 2020......  
e From 2021......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 18,264,391
a Applied to 2021, but not more than line 2a 17,920,033
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 2022 distributable amount..... 344,358
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2022. 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 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		16,772,519
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 2017 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019....  
c Excess from 2020....  
d Excess from 2021....  
e Excess from 2022....  
Form 990-PF (2022)
Form 990-PF (2022)
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 2022, enter the date of the ruling ...... right arrow
 
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 IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2022 (b) 2021 (c) 2020 (d) 2019
         
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 right arrow
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 (2022)
Form 990-PF (2022)
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

ACTion Programs for Animals (APA)

537 N Solano Dr
Las Cruces,NM88001 		N/A PC PAWS Program 15,000

Advocates for Citizens' Rights

3024 E Chapman Ave Unit 415
Orange,CA92869 		N/A PC General support 15,000

American Bird Conservancy

PO Box 249
The Plains,VA20198 		N/A PC Mineau report & pesticide work 60,000

American Rivers

1101 14th Street NW Ste 1400
Washington,DC20005 		N/A PC Work in New Mexico 50,000

Amigos Bravos

PO Box 238
Taos,NM87571 		N/A PC Protecting & restoring river systems 150,000

Animal Humane New Mexico

615 Virginia St SE
Albuquerque,NM87108 		N/A PC Project Fetch & donor-subsidized veterinary clinic 125,000

Animal Legal Defense Fund

525 East Cotati Ave
Cotati,CA94931 		N/A PC Criminal Justice and Litigation Programs 500,000

Animal Protection New Mexico

PO Box 11395
Albuquerque,NM87192 		N/A PC Programmatic support 650,000

Animal Protective Association of Socorro

PO Box 451
Socorro,NM87801 		N/A PC Spay and neuter program 35,000

Animal Services Center of the Mesilla Valley

3551 Bataan Memorial West
Las Cruces,NM88012 		N/A GOV Animal Services Center support 150,000

Animal Welfare Coalition of Northeastern New Mexico

PO Box 524
Las Vegas,NM87701 		N/A PC General support 75,000

Animal Welfare Coalition of Northeastern New Mexico

PO Box 524
Las Vegas,NM87701 		N/A PC Emergency evacuation support 10,000

Audubon Southwest

PO Box 9314
Santa Fe,NM87504 		N/A PC Habitat & imperiled bird species work 150,000

Aztec Animal Care & Control

825 Sabena Street
Aztec,NM87410 		N/A GOV Animal Shelter support 75,000

Best Friends Animal Society

5001 Angel Canyon Road
Kanab,UT84741 		N/A PC New Mexico transfer program 40,000

Beyond Pesticies

701 E Street SE Ste 200
Washington,DC20003 		N/A PC General support 150,000

Bro and Tracy Animal Welfare

PO Box 404
Corrales,NM87048 		N/A PC Spay/neuter mobile unit & general support 125,000

Building Biology Institute

PO Box 8520
Santa Fe,NM87504 		N/A PC General support 15,000

Carnegie Hill Neighbors

1326 Madison Avenue Garden Level
New York,NY10128 		N/A PC General support 25,000

Center for American Liberty

PO Box 200942
Pittsburgh,PA15251 		N/A PC General support 75,000

Center for Biological Diversity

PO Box 710
Tucson,AZ85702 		N/A PC New Mexico & Environmental Health Programs 400,000

Center for Contemporary Sciences

9841 Washingtonian Blvd Ste 200
Gaithersburg,MD20878 		N/A PC General support 100,000

Center for Food Safety

518 C Street NE Ste 200
Washington,DC20002 		N/A PC Pollinators & Pesticide Program; GMO Campaign 500,000

Central Park Conservancy

14 East 60th Street
New York,NY10022 		N/A PC General support 25,000

Chama Peak Land Alliance

PO Box 5701
Pagosa Springs,CO81147 		N/A PC Work for New Mexico streams, riparian & wetland systems 25,000

Chimp Haven

13600 Chimpanzee Place
Keithville,LA71047 		N/A PC Chimp care 150,000

City of Alamogordo

1376 E Ninth Street
Alamogordo,NM88310 		N/A GOV Animal Control Center support 75,000

City of Hobbs Animal Adoption Center

200 E Broadway
Hobbs,NM88240 		N/A GOV Spay and neuter program 20,000

City of Lovington

214 S Love Street
Lovington,NM88260 		N/A GOV Spay and neuter program 15,000

City of Santa Rosa

244 S 4th Street
Santa Rosa,NM88435 		N/A GOV Spay and neuter program 20,000

Companion Animal Action Team

PO Box 512
Williamsburg,NM87942 		N/A PC General support 15,000

Conservation Lands Foundation

835 E 2nd Ave Ste 314
Durango,CO81301 		N/A PC Work in New Mexico 55,000

Conservation Voters New Mexico Education Fund

121 Sandoval St Ste 200
Santa Fe,NM87501 		N/A PC Work for wildlife, public lands &freshwater 75,000

Covenant Pathways

PO Box 455
Vanderwagen,NM87326 		N/A PC General support. 40,000

Defenders of Wildlife

1130 17th St NW
Washington,DC20036 		N/A PC Work in New Mexico and Arizona 250,000

Deming Animal Guardians

PO Box 1275
Deming,NM88031 		N/A PC General support 25,000

Deming-Luna County Humane Society

PO Box 70
Deming,NM88031 		N/A PC Spay and neuter voucher program 25,000

Denkai Animal Sanctuary

22633 Road 176
Yellow Jacket,CO81335 		N/A PC General support 50,000

Desert Paws Inc

PO Box 1366
Pena Blanca,NM87041 		N/A PC General support 50,000

Dharmahorse Equine Sanctuary

6874 Coyote Road
Las Cruces,NM88012 		N/A PC General support 20,000

Doa Ana County Humane Society

PO Box 1176
Las Cruces,NM88004 		N/A PC Animal Relief Program 100,000

Earth Island Institute

2150 Allston Way Ste 460
Berkeley,CA94704 		N/A PC Wild Heritage's Southwest forest work 75,000

End of the Road Ranch

PO Box 370
Silver City,NM88062 		N/A PC General support 35,000

Environmental Health Trust

PO Box 58
Teton Village,WY83025 		N/A PC Birds, Bees and Trees Program & general support 150,000

Equine Advocates

PO Box 354
Chatham,NY12037 		N/A PC General support 15,000

Equine Spirit Sanctuary

13 Los Caballos Road
Ranchos de Taos,NM87557 		N/A PC General support 20,000

Espanola Valley Humane Society

108 Hamm Parkway
Espaola,NM87532 		N/A PC General support 250,000

Farm to Table New Mexico

518 Old Santa Fe Trail Ste 1 Box
171
Santa Fe,NM87505 		N/A PC General support 15,000

Farmington Regional Animal Shelter

133 Browning Parkway
Farmington,NM87401 		N/A GOV Animal Shelter support 115,000

Felines & Friends New Mexico

369 Montezuma Ave Ste 320
Santa Fe,NM87501 		N/A PC Cat Condo HVAC & general support 40,000

Feral Cat Focus of Western New York

PO Box 404
East Aurora,NY14052 		N/A PC General support 15,000

Food & Water Watch

1616 P Street NW Ste 400
Washington,DC20036 		N/A PC Mega-dairy work in New Mexico 150,000

Four Corners Equine Rescue

22 Road 3334
Aztec,NM87410 		N/A PC General support 100,000

Health Freedom Defense Fund

506 Alder Street Ste 1
Sandpoint,ID83864 		N/A PC General support 15,000

Heart and Soul Animal Sanctuary

369 Montezuma Ave Ste 130
Santa Fe,NM87501 		N/A PC General support 50,000

Helping Paws Across Borders

16 Chamisa Rd
Placitas,NM87043 		N/A PC Spay and neuter clinics 40,000

Homeless Animal Rescue Team of New Mexico

PO Box 267
Los Lunas,NM87031 		N/A PC Spay and neuter program 75,000

Humane Society of Central Delaware County Inc

PO Box 88
Delhi,NY13753 		N/A PC General support 50,000

Independent Women's Forum

4 Weems Ln Ste 312
Winchester,VA22601 		N/A PC Independent Women's Law Center 75,000

Institute for Applied Ecology

563 SW Jefferson Ave
Corvallis,OR97333 		N/A PC River for Monarchs Project 135,000

International Dark-Sky Association

5049 E Broadway Blvd Ste 105
Tucson,AZ85711 		N/A PC New Mexico pilot program & Southwest work 100,000

International Partners for Ethical Care

1658 N Milwaukee Ave Unit 341
Chicago,IL60647 		N/A PC Postcard campaign & conference 50,000

June's Senior Cat Rescue

PO Box 16521
Albuquerque,NM87191 		N/A PC General support 10,000

Kindred Spirits Animal Sanctuary

3749 A State Highway 14
Santa Fe,NM87508 		N/A PC General support 50,000

Malpai Borderlands Group

PO Box 3536
Douglas,AZ85608 		N/A PC Supporting wildlife in New Mexico 25,000

McKinley County Humane Society

PO Box 10
Gallup,NM87305 		N/A PC General support 50,000

Mustang Camp

PO Box 620
Blanco,NM87412 		N/A PC General support 10,000

National Anti-Vivisection Society (NAVS)

444 N Wells Street Ste 406
Chicago,IL60654 		N/A PC Ending dissection in the classroom 50,000

National Wildlife Federation

11100 Wildlife Center Drive
Reston,VA20190 		N/A PC Upper Rio Grande work & pilot Pollinator Project 305,000

New Mexico Acequia Association

805 Early St Ste 203B
Santa Fe,NM87505 		N/A PC Protecting acequia systems 50,000

New Mexico Horse Rescue at Walkin N Circles Ranch (Walkin N Circles Ranch I

PO Box 626
Edgewood,NM87015 		N/A PC Facility improvements & general support 140,000

New Mexico Wilderness Alliance

317 Commercial St NE Ste 300
Albuquerque,NM87102 		N/A PC Conservation work in New Mexico and Colorado 250,000

New Mexico Wildlife Center

19 Wheat Street
Espanola,NM87532 		N/A PC Wildlife hospital & electrical upgrades 85,000

NMDOG

9445 Coors Blvd NW 171
Albuquerque,NM87114 		N/A PC General support 60,000

No Left Turn in Education

1318 Club House Rd
Gladwyne,PA19035 		N/A PC General support 15,000

Panthera Corporation

8 West 40th St 18th Fl
New York,NY10018 		N/A PC Range-wide puma assessment 175,000

Paws & Claws Animal Rescue of Quay County

PO Box 143
Tucumcari,NM88401 		N/A PC Roof repair & kennels upgrades 15,000

Pecos People for Animal Welfare Society dba PAWS

7 Avenida Vista Grande Ste B7-471
Santa Fe,NM87508 		N/A PC Spay/neuter mobile unit 75,000

Perfect Harmony Animal Rescue and Sanctuary

636 Palmas St
Chaparral,NM88081 		N/A PC General support 5,000

Pesticide Action Network

2029 University Ave Ste 200
Berkeley,CA94704 		N/A PC General support 150,000

Phoenix Zones Initiative

13170-B Central Avenue SE PMB 385
Albuquerque,NM87123 		N/A PC Animal Protection Program 90,000

Physicians Committee for Responsible Medicine

5100 Wisconsin Ave NW Ste 400
Washington,DC20016 		N/A PC Toxicology Program 500,000

Prairie Dog Pals

PO Box 14235
Albuquerque,NM87191 		N/A PC General support 5,000

Raton Humane Society

1108 S Fifth Street PO Box 1321
Raton,NM87740 		N/A PC General support 25,000

Rio Grande Agricultural Land Trust

PO Box 40043
Albuquerque,NM87196 		N/A PC General support 30,000

Rio Grande Return

1704B Llano St Ste 347
Santa Fe,NM87505 		N/A PC General support & pollinator work 175,000

Rodale Institute

611 Siegfriedale Road
Kutztown,PA19530 		N/A PC New York and New Mexico Programs 250,000

San Luis Valley Animal Welfare Society

76 El Rio Drive
Alamosa,CO81101 		N/A PC General support 25,000

Sandoval County Government

1500 Idalia Road Bldg D PO Box 40
Bernalillo,NM87004 		N/A GOV Animal Welfare Programs & Services 60,000

Santa Fe Animal Shelter

100 Caja Del Rio Rd
Santa Fe,NM87507 		N/A PC CASA Program 50,000

Santa Fe Botanical Garden

PO Box 23343
Santa Fe,NM87502 		N/A PC Expanding pollinator plants & programs 15,000

Santa Fe Forest Coalition

PO Box 1943
Santa Fe,NM87504 		N/A PC General support 25,000

Save Our Bosque Task Force

PO Box 1527
Socorro,NM87801 		N/A PC Work towards pesticide-free restoration 13,000

Sky Island Alliance

PO Box 41165
Tucson,AZ85748 		N/A PC Border wall work to benefit wildlife 25,000

Sky Mountain Wild Horse Sanctuary

PO Box 2946
Santa Fe,NM87504 		N/A PC General support 15,000

Spay & Neuter Action Program (SNAP)

2405 W Picacho Ste 103
Las Cruces,NM88007 		N/A PC General support 40,000

Stray Hearts Animal Shelter of Taos

PO Box 622
Taos,NM87571 		N/A PC Training program & dog pod upgrades 55,000

Street Cat HUB

PO Box 53207
Albuquerque,NM87153 		N/A PC General support 50,000

The Horse Shelter

821 W San Mateo Rd A
Santa Fe,NM87505 		N/A PC General support 50,000

The Humane Society of the United States

1255 23rd St NW Ste 450
Washington,DC20037 		N/A PC U.S. #BeCrueltyFree & Animal Research Campaigns 225,000

The Toby Project Inc

220 West 72nd Street
New York,NY10023 		N/A PC General support 15,000

The Univesity of Kansas Endowment Association

PO Box 928
Lawrence,KS66044 		N/A PC Milkweed in the Southwest. 5,000

Torrance County

PO Box 48 205 9th St
Estancia,NM87016 		N/A GOV Spay and neuter program 25,000

Tree New Mexico

3535 Princeton Drive NE Ste 101
Albuquerque,NM87107 		N/A PC General support 150,000

Trout Unlimited

1777 N Kent Street Ste 100
Arlington,VA22209 		N/A PC Conservation work in New Mexico and Colorado 225,000

Turquoise Paw Rescue

PO Box 4707
Shiprock,NM87420 		N/A PC General support 25,000

United4Change

2480 Times Blvd Ste 204-B
Houston,TX77005 		N/A PC General support 50,000

Unity Project of California

668 N Coast Hwy 505
Laguna Beach,CA92651 		N/A PC General support 15,000

Vanguard Charitable

PO Box 9509
Warwick,RI02889 		N/A PC Charitable giving 600,000

Vanguard Charitable

PO Box 9509
Warwick,RI02889 		N/A PC Charitable giving 3,000,000

WDIU

65 Greene Street
Catskill,NY12414 		N/A NC Education 50,000

Western Environmental Law Center

120 Shelton McMurphey Blvd Ste 340
Eugene,OR97401 		N/A PC Work in New Mexico 175,000

Western Landowners Alliance

PO Box 27798
Denver,CO80227 		N/A PC Work in New Mexico & Consortium support 50,000

Western Landowners Alliance

PO Box 27798
Denver,CO80227 		N/A PC Work in New Mexico 50,000

Western Resource Advocates

2260 Baseline Road Ste 200
Boulder,CO80302 		N/A PC Hire 150,000

Weston A Price Foundation

4200 Wisconsin Ave NW Ste 106-380
Washington,DC20016 		N/A PC General support 25,000

White Coat Waste Project

PO Box 26029
Washington,DC20001 		N/A PC General support 1,000,000

Wild Earth Society Inc dba Wildlands Network

329 W Pierpont Ave Ste 300
Salt Lake City,UT84101 		N/A PC New Mexico Program 250,000

Wild Spirit Wolf Sanctuary

378 Candy Kitchen Rd HC 61 Box 28
Ramah,NM87321 		N/A PC General support 25,000

WildEarth Guardians

301 N Guadalupe St Ste 201
Santa Fe,NM87501 		N/A PC New Mexico & Forest Wisdom program support 425,000

WildEarth Guardians

301 N Guadalupe St Ste 201
Santa Fe,NM87501 		N/A PC The Forest Advocate 6,000

WildEarth Guardians

301 N Guadalupe St Ste 201
Santa Fe,NM87501 		N/A PC The Forest Advocate 20,000

WLF

1802 Vernon St NW Ste 2036
Washington,DC20009 		N/A PC Education 300,000

Xerces Society Inc

PO Box 84274
Seattle,WA98124 		N/A PC Pollinators, Pesticides & New Mexico work 600,000
Total .................................right arrow 3a 16,574,000
bApproved for future payment

Sandoval County Government
PO Box 40
Bernalillo,NM87004 		N/A GOV Animal Welfare Programs & Services 60,000

Xerces Society Inc
PO Box 84274
Seattle,WA98124 		N/A PC New Mexico Pesticide Specialist Hire 100,000
Total ................................. right arrow 3b 160,000
Form 990-PF (2022)
Form 990-PF (2022)
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 ........... 		    14 9,015  
4 Dividends and interest from securities ....     14 1,044,668  
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 ............ 		525990 -19,908 18 10,883,207  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aPassthrough K-1 income 		525990 -40,608 14 4,143,592  
bForeign dividend income     14 5,221,312  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -60,516 21,301,794 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
21,241,278
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2022)
Form 990-PF (2022)
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
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Form 990-PF (2022)
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Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2022
Name of the organization
Carroll Petrie Foundation
 
Employer identification number

13-3912203
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2022)
Schedule B (Form 990) (2022) Page 2
Name of organization
Carroll Petrie Foundation
  		Employer identification number
13-3912203
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Estate of Carroll Petrie co Shulte Roth & Zabel
 
919 Third Avenue
 
New York, NY10022

$ 820,742


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

$  


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

$  


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

$  


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

$  


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

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2022)
Schedule B (Form 990) (2022)
Page 3
Name of organization
Carroll Petrie Foundation
  		Employer identification number

13-3912203
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2022)
Schedule B (Form 990) (2022)
Page 4
Name of organization
Carroll Petrie Foundation
  		Employer identification number

13-3912203
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2022)
Additional Data


Software ID:  
Software Version:  

TY 2022 AccountingFeesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting & tax compliance 44,661 13,118   30,043

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TY 2022 ExpenditureResponsibilityStmt
Name:
Carroll Petrie Foundation
EIN:
13-3912203
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
Holistic Management International
  		2425 San Pedro Dr NE Suite A
Albuquerque,NM87110 		2021-08-20 50,000 Pollinators and bird habitats grazing workshops in Colorado, Texas, and New Mexico 50,000   4/4/22, 10/10/22   The Foundation has no reason to doubt the accuracy or reliability of the report from the grantee; therefore, no independent verification was made.
WDIU
  		65 Greene Street
Catskill,NY12414 		2022-03-21 50,000 Education 50,000   2/6/23   The Foundation has no reason to doubt the accuracy or reliability of the report from the grantee; therefore, no independent verification was made.

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TY 2022 GainLossSaleOtherAssetsSch
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Name Date Acquired How Acquired Date Sold Purchaser Name Gross Sales Price Basis Basis Method Sales Expenses Total (net) Accumulated Depreciation
Passthrough 1231 gain UBI Amberbrook VIII, LP   Purchased         Cost 0 522  
Passthrough 1231 gain UBI Lexington Middle Market Investors IV, LP   Purchased         Cost 0 1,360  
Passthrough 1231 gain UBI Madison Dearborn Capital Partners VIII-B, LP   Purchased         Cost 0 22  
Passthrough 1231 gain UBI The Varde Fund XIII, LP   Purchased         Cost 0 8,177  
Passthrough LT capital gain UBI Amberbrook VIII, LP   Purchased         Cost 0 2,438  
Passthrough LT capital gain UBI Lexington Middle Market Investors IV, LP   Purchased         Cost 0 27,988  
Passthrough LT capital loss UBI The Varde Fund XIII, LP   Purchased         Cost 0 -29,374  
Passthrough ST capital gain UBI Amberbrook VIII, LP   Purchased         Cost 0 141  
Passthrough ST capital gain UBI Lexington Middle Market Investors IV, LP   Purchased         Cost 0 6,677  
Passthrough ST capital gain UBI Madison Dearborn Capital Partners VIII-A, LP   Purchased         Cost 0 1,484  
Passthrough ST capital loss UBI The Varde Fund XIII, LP   Purchased         Cost 0 -39,343  

TY 2022 GeneralExplanationAttachment
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Identifier Return Reference Explanation
  Form 990-PF Part II, Line 22 - Charitable Gift Annuity Reserve Under the terms of the settlement agreement dated November 14, 2017 and formally entered into the record of the New York County Surrogate's Court between the Estate of Carroll Petrie, the Carroll Petrie Foundation ("Foundation") and three individuals ("Annuitants") who had been named as beneficiaries of certain unfunded charitable remainder annuity trusts under the will of Mrs. Carroll Petrie, the Carroll Petrie Foundation was obligated to use a distribution in the amount of $3,500,000 from the Estate of Carroll Petrie to establish three charitable gift annuities for the benefit of these individuals in the amount of $1,000,000 each, and to make a lump sum payment to each beneficiary representing the annuities each such individual would have been entitled to receive from the date of Mrs. Petrie's death through the establishment of the charitable gift annuities. The Charities Bureau of the Office of the Attorney General of the State of New York participated in the settlement negotiations and approved the terms of the settlement agreement. In connection therewith, the Foundation requested and received approval from the New York State Department of Financial Services for a special permit to issue said charitable gift annuities, which approval is limited to the issuance of these particular charitable gift annuities. As required by the New York State Department of Financial Services, the Foundation maintains a mandated reserve of $1,684,201 as of December 31, 2022, for the surviving annuitants of which there are two remaining. The Foundation filed its 2022 annual statement of the segregated gift annuity fund with the New York State Department of Financial Services, as required by law. The annual annuity payments (total $97,985 per year) are payable to the surviving Annuitants for life. The Annuitants are not related to the Foundation or to any of the managers or directors of the Foundation.

TY 2022 InvestmentsCorpBondsSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Name of Bond End of Year Book Value End of Year Fair Market Value
JPM Limited Duration Bond Fund R6 28,575,704 27,441,401

TY 2022 InvestmentsCorpStockSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Name of Stock End of Year Book Value End of Year Fair Market Value
Edgewood Growth Fund Institutional 10,104,184 14,087,283
GMO Emerging Domestic Opportunities Fund II 9,188,429 6,953,571
SPDR S&P 500 ETF Trust 8,615,277 13,286,001
Spyglass Growth Fund Institutional 5,000,000 3,592,085
Vanguard Lifestrategy Growth Fund 1,729,465 1,849,679

TY 2022 InvestmentsOtherSchedule2
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
Amberbrook VIII AT COST 4,540,196 5,459,837
Anchorage Cap Ptrs Offshore AT COST 4,480,385 3,151,905
Arisaig Global Emer Mkts CF AT COST 2,501,280 2,985,832
Axiom Asia 5 AT COST 2,560,772 4,126,588
Axiom Asia 6 AT COST 1,549,863 1,918,964
Bain Capital Global LEF (Offshore) AT COST 15,000,000 11,721,034
Bluegrass Equity Fund AT COST 1,967,666 2,326,128
Canyon Dist Opp Fund III (Cayman) AT COST 5,036,055 4,903,646
Casdin Partners Offshore AT COST 5,000,000 1,981,735
CD&R Fund X AT COST 1,651,450 2,407,535
CD&R Fund X (Credit) AT COST 98,521 107,795
CD&R Fund X Energy B AT COST 184,819 81,937
CD&R Fund X Orange B AT COST 134,673 349,297
CD&R Fund X Waterworks B1 AT COST 197,808 797,859
CD&R Fund XI AT COST 1,072,625 1,171,826
CD&R Fund XI AIV B AT COST 72,813 80,614
CTF Research Equity (Wellington) AT COST 19,461,041 19,453,499
D. Kempner Institutional Partners AT COST 7,853,775 7,700,509
D. Kempner LT DOI IV AT COST 1,686,092 2,919,185
D. Kempner LT DOI IV (AIV) AT COST 1,011,888 804,333
D. Kempner LT DOI V AT COST 3,229,515 3,145,161
D. Kempner LT DOI V (AIV-TE) AT COST 1,723,038 1,761,691
D. Kempner Opp Intl VI AT COST 409,928 284,384
D. Kempner Opp Intl VI (AIV-TE) AT COST 292 0
Farallon Capital Inst Ptrs AT COST 6,597,943 6,663,085
Farallon Equity Partners AT COST 21,644,709 21,743,566
Farallon Special Situations Fd AT COST 2,463,081 2,289,623
Farallon Special Situations Fd II AT COST 2,130,042 2,210,850
Golub Capital Ptrs Intl 11 AT COST 2,666,985 2,687,191
Golub Capital Ptrs Intl 12 AT COST 4,485,427 4,605,189
GQG Partners Emer Mkts Eq Fund AT COST 6,577,995 6,372,313
GQG Partners Internl Equity Fund AT COST 17,062,073 18,566,979
Graham Partners V AT COST 1,264,319 3,257,416
Harbor Spring Cap Ptrs Offshore AT COST 5,000,000 4,590,659
Highclere Intl Inv SMID Fund AT COST 9,847,893 8,953,963
Junto Offshore Fund AT COST 10,000,000 10,354,383
Kabouter Intl Opp Offshore Fund II AT COST 97,026 97,026
Lexington Middle Mkt Inv IV AT COST 2,202,131 2,953,427
Madison Dearborn Cap Ptrs VIII-A AT COST 2,042,516 2,184,669
Madison Dearborn Cap Ptrs VIII-B AT COST 366,716 542,157
Mainsail Partners VI AT COST 292,163 280,813
MW Eureka Fund AT COST 8,000,000 12,505,215
Newport Asia Institutional Fund AT COST 8,119,557 9,528,213
Nut Tree Drawdown Offshore Fund AT COST 1,400,000 3,031,310
Nut Tree Offshore Fund AT COST 5,000,000 6,052,142
Owl Rock First Lien Fund (Offshore) AT COST 4,339,449 4,423,471
Redwood Drawdown Offshore Fd III AT COST 2,500,000 2,613,410
Redwood Enhanced Income Corp AT COST 2,421,041 2,205,521
Sageview Capital Ptrs II (Offshore) AT COST 2,709,538 4,193,285
Sageview Capital Ptrs III (B) AT COST 1,037,338 1,144,298
Select Equity Offshore AT COST 9,885,425 16,184,176
StepStone VC Sec Fund V (Cayman) AT COST 3,300,000 3,558,089
The Overlook Partners Fund AT COST 3,900,982 3,992,771
The Varde Fund XIII AT COST 5,562,912 5,559,158
True Wind Capital II AT COST 704,017 678,832
VIP IV Feeder AT COST 3,335,664 3,827,081
Redwood Drawdown Offshore Fd II AT COST 0 1,000,833

TY 2022 LandEtcSchedule2
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
Vehicle 1 33,755 0 33,755 33,755
Vehicle 2 33,755 0 33,755 33,755


TY 2022 LegalFeesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
General governance & counsel 187,660 48,674   138,986


TY 2022 OtherDecreasesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Description Amount
Change in CGA reserve liability 42,638


TY 2022 OtherExpensesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Passthrough K-1 expenses 2,314,615 2,187,830   0
Bank service fees 28,147 28,147   0
Information technology 69,935 1,859   68,076
Insurance 10,461 523   9,938
Membership and subscriptions 22,322 0   22,322
Office expenses 7,269 331   6,938
Staff development 3,051 0   3,051
State filing fees 4,249 2,186   2,063
Other investment expenses 22,043 22,043   0


TY 2022 OtherIncomeSchedule2
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Passthrough K-1 income 4,102,984 4,138,781 4,102,984
Foreign dividend income 5,221,312 5,221,312 5,221,312


TY 2022 OtherLiabilitiesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Description Beginning of Year - Book Value End of Year - Book Value
Charitable gift annuity reserve 1,726,840 1,684,202


TY 2022 OtherProfessionalFeesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Grants management fees 64,613 0   64,613
Investment management fees 300,000 300,000   0
Payroll processing fees 5,494 340   5,154


TY 2022 TaxesSchedule
Name:
Carroll Petrie Foundation
EIN:
13-3912203
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Federal excise tax 777,449 0   0
Federal income tax 80,554 0   0