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
ZELL FAMILY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)TWO NORTH RIVERSIDE PLAZA 600
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60606
A Employer identification number

36-3487811
B Telephone number (see instructions)

(312) 466-3335
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$244,754,492J 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) 1,693,217
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,087,921 1,604,445  
4 Dividends and interest from securities... 2,094,121 2,248,159  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 3,857,254
b Gross sales price for all assets on line 6a 21,533,807
7 Capital gain net income (from Part IV, line 2)... 4,454,052
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
0 1,137,790  
12 Total. Add lines 1 through 11........ 8,732,513 9,444,446  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... Click to see attachment
List of Attached Documents:
// Content
73,599 36,799   36,799
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
49,000 24,500   24,500
c Other professional fees (attach schedule)....   220,021    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
449,118 0   0
19 Depreciation (attach schedule) and depletion...   32,646  
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications.......... 2,500 1,250   1,250
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
791 721   70
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 575,008 315,937   62,619
25 Contributions, gifts, grants paid....... 17,434,488 26,879,604
26 Total expenses and disbursements. Add lines 24 and 25 18,009,496 315,937   26,942,223
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -9,276,983
b Net investment income (if negative, enter -0-) 9,128,509
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............. 627,356 94,184 94,184
2 Savings and temporary cash investments......... 26,046,409 6,932,137 6,932,137
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow27,117,709
Less: allowance for doubtful accounts right arrow     27,117,709 27,117,709
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 arrow109,539,706
Less: allowance for doubtful accounts right arrow0 136,647,415 109,539,706 109,539,706
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)....... 42,636,743 Click to see attachment
List of Attached Documents:
// Content
36,053,793 		36,053,793
c Investments—corporate bonds (attach schedule)....... 47,110,045 Click to see attachment
List of Attached Documents:
// Content
42,672,354 		42,672,354
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).......... 21,192,314 Click to see attachment
List of Attached Documents:
// Content
22,344,609 		22,344,609
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 274,260,282 244,754,492 244,754,492
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable................. 204,840,108 196,364,992
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
287,412 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 205,127,520 196,364,992
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........... 69,132,762 48,389,500
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 69,132,762 48,389,500
30 Total liabilities and net assets/fund balances (see instructions). 274,260,282 244,754,492
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
69,132,762
2
Enter amount from Part I, line 27a .....................
2
-9,276,983
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
59,855,779
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
11,466,279
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
48,389,500
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 P    
b 731A GAIN ON DISPOSITION OF CHATHAM ASSET PARTNERS HIGH YIELD FUND, LP P    
c FROM THIRD PARTY FUNDS P    
d CAPITAL GAINS DIVIDENDS P    
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 21,312,726   17,079,755 4,232,971
b 48,717     48,717
c 60,700     60,700
d 111,664     111,664
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       4,232,971
b       48,717
c       60,700
d       111,664
e
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 4,454,052
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) 1 126,886
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........................... 3 126,886
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- ..... 5 126,886
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 152,085
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 150,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 302,085
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
8 374
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 10 174,825
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow174,825 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
Yes
 
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 arrowIL
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
Yes
 
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowCHAI TRUST COMPANY Telephone no.right arrow (312) 466-3335

Located atright arrowTWO NORTH RIVERSIDE PLAZA SUITE 600CHICAGOIL ZIP+4right arrow606062627
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)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
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
Yes
 
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
 
No
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 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
HELEN H ZELL EXECUTIVE DIRECTOR/ V.P.
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
SAMUEL ZELL PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
KELLIE ZELL VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
MATTHEW M ZELL VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
JOANN L ZELL VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
PHILIP TINKLER VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
JOSEPH MIRON SECRETARY/ VICE PRESIDENT
1.00 		0 0 0
120 N LASALLE STREET 38TH FLOOR
CHICAGO,IL60602
LUCILLE MCFARLAND VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
MICHAEL SHINER TREASURER/VICE PRESIDENT
1.00 		0 0 0
TWO NORTH RIVERSIDE PLAZA STE 600
CHICAGO,IL60606
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................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
LEVIN SCHREDER & CAREY LEGAL SERVICES 60,025
120 N LASALLE STREET FLOOR 38
CHICAGO,IL60602
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 NOT APPLICABLE 0
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 NOT APPLICABLE 0
2  
All other program-related investments. See instructions.
3 Click to see attachment
List of Attached Documents:
// Content
0
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
77,430,694
b
Average of monthly cash balances.......................
1b
17,033,006
c
Fair market value of all other assets (see instructions)................
1c
30,886,177
d
Total (add lines 1a, b, and c).........................
1d
125,349,877
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
125,349,877
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,880,248
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
123,469,629
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
6,173,481
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
6,173,481
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
126,886
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
52,517
c
Add lines 2a and 2b............................
2c
179,403
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
5,994,078
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
5,994,078
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
5,994,078
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
26,942,223
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
 
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
26,942,223
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 5,994,078
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 0
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...... 12,040,514
d From 2020...... 13,515,928
e From 2021...... 13,553,910
f Total of lines 3a through e ........ 39,110,352
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 26,942,223
a Applied to 2021, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2022 distributable amount..... 5,994,078
e Remaining amount distributed out of corpus 20,948,145
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 60,058,497
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 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 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 ...... 		60,058,497
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019.... 12,040,514
c Excess from 2020.... 13,515,928
d Excess from 2021.... 13,553,910
e Excess from 2022.... 20,948,145
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).)
HELEN H ZELL
SAMUEL ZELL
KELLIE ZELL
MATTHEW M ZELL
JOANN L ZELL
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

ZELL ENTREPRENEURSHIP FOUNDATION

2 N RIVERSIDE PLAZA SUITE 600
CHICAGO,IL60606 		NONE PRIVATE FOUNDATION GENERAL SUPPORT 2,000,000

YOUNG CHICAGO AUTHORS

1180 N MILWAUKEE AVENUE SUITE 2
CHICAGO,IL60642 		NONE PUBLIC CHARITY GENERAL SUPPORT 125,000

WINDOW TO THE WORLD COMMUNICATIONS (WTTW & WFMT)

5400 N ST LOUIS AVENUE
CHICAGO,IL60625 		NONE PUBLIC CHARITY GENERAL SUPPORT 60,000

URBAN GATEWAYS

1637 N ASHLAND AVENUE SUITE 1
CHICAGO,IL60622 		NONE PUBLIC CHARITY GENERAL SUPPORT 69,404

UNIVERSITY OF MICHIGAN LAW

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ENTREPRENEURSHIP CLINIC 650,000

UNIVERSITY OF MICHIGAN HILLEL

1429 HILL STREET
ANN ARBOR,MI48104 		NONE PUBLIC CHARITY GENERAL SUPPORT 10,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ZELL GRADUATE FELLOWS 600,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (ZELL FOUNDERS FUND) 200,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (SZ/RL INSTITUTE) 700,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (SZ/RL INSTITUTE) 200,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - POST-MFA WRITING FELLOWSHIP 550,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - MFA HZ EXPENDABLE FUND 183,000

UNIVERSITY OF MICHIGAN

500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - HZ WRITER'S PROGRAM 250,000

UNIVERSITY OF COLORADO FOUNDATION

1800 N GRANT STREET SUITE 725
DENVER,CO80203 		NONE PUBLIC CHARITY GENERAL SUPPORT - PKD RESEARCH FUND 375,000

UNIVERSITY OF COLORADO FOUNDATION

1800 N GRANT STREET SUITE 725
DENVER,CO80203 		NONE PUBLIC CHARITY GENERAL SUPPORT - ZFF CURRICULUM INNOVATION FUND 150,000

UNIVERSITY OF CHICAGO

5235 S HARPER COURT FLOOR 4
CHICAGO,IL60615 		NONE PUBLIC CHARITY GENERAL SUPPORT - PARRHESIA, PROGRAM FOR PUBLIC DISCOURSE 79,200

UNIVERSITY OF CHICAGO

5235 S HARPER COURT FLOOR 4
CHICAGO,IL60615 		NONE PUBLIC CHARITY GENERAL SUPPORT - INSTITUTE OF POLITICS SPEAKER SERIES 200,000

UNIVERSITY OF CHICAGO

5801 S ELLIS AVENUE
CHICAGO,IL60637 		NONE PUBLIC CHARITY GENERAL SUPPORT - CENTER FOR FREEDOM OF EXPRESSION 4,000,000

UNITED STATES HOLOCAUST MEMORIAL MUSEUM

100 RAOUL WALLENBERG PL SW
WASHINGTON,DC20024 		NONE PUBLIC CHARITY GENERAL SUPPORT 200,000

UNITED STATES HOLOCAUST MEMORIAL MUSEUM

100 RAOUL WALLENBERG PL SW
WASHINGTON,DC20024 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

THIRD COAST PERCUSSION NFP

4045 N ROCKWELL STREET UNIT 301
CHICAGO,IL60618 		NONE PUBLIC CHARITY GENERAL SUPPORT 20,000

THE POINT MAGAZINE

30 N LA SALLE STREET SUITE 2240
CHICAGO,IL60602 		NONE PUBLIC CHARITY GENERAL SUPPORT 140,000

TEACH FOR AMERICA INC

25 BROADWAY FLOOR 12
NEW YORK,NY10004 		NONE PUBLIC CHARITY GENERAL SUPPORT 750,000

TEACH FOR ALL

25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		NONE PUBLIC CHARITY GENERAL SUPPORT 250,000

STEPPENWOLF THEATER COMPANY

1700 N HALSTED
CHICAGO,IL60614 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

START EARLY (FKA OUNCE OF PREVENTION)

33 W MONROE STREET SUITE 1200
CHICAGO,IL60603 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

START EARLY (FKA OUNCE OF PREVENTION)

33 W MONROE STREET SUITE 1200
CHICAGO,IL60603 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,000,000

SIMON WIESENTHAL CENTER INC

1399 ROXBURY DRIVE FLOOR 2
LOS ANGELES,CA90035 		NONE PUBLIC CHARITY GENERAL SUPPORT 30,000

SIMON WIESENTHAL CENTER INC

1399 ROXBURY DRIVE FLOOR 2
LOS ANGELES,CA90035 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

RUSH UNIVERSITY MEDICAL CENTER

1700 W VAN BUREN STREET ROOM 250
CHICAGO,IL60612 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

ROCHELLE ZELL JEWISH HIGH SCHOOL

1095 LAKE COOK ROAD
DEERFIELD,IL60015 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

NORTHWESTERN MEMORIAL FOUNDATION

541 N FAIRBANKS CT RM 1630
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 96,000

MUSIC OF THE BAROQUE

25 E WASHINGTON STREET SUITE 823
CHICAGO,IL60602 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

MUSEUM OF MODERN ART

11 W 53 STREET
NEW YORK,NY10019 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

MUSEUM OF CONTEMPORARY ART

220 E CHICAGO AVE
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

MILLENNIUM PARK FOUNDATION

201 E RANDOLPH STREET
CHICAGO,IL60601 		NONE PUBLIC CHARITY GENERAL SUPPORT 30,000

MERIT SCHOOL OF MUSIC

JOY FAITH KNAPP MUSIC CENTER 38 S
PEORIA STREET
CHICAGO,IL60607 		NONE PUBLIC CHARITY GENERAL SUPPORT 75,000

MAYO CLINIC

200 FIRST STREET SW
ROCHESTER,MN55905 		NONE PUBLIC CHARITY GENERAL SUPPORT 400,000

MARWEN FOUNDATION INC

833 NORTH ORLEANS
CHICAGO,IL60610 		NONE PUBLIC CHARITY GENERAL SUPPORT 120,000

LYRIC OPERA OF CHICAGO

20 NORTH WACKER DRIVE SUITE 860
LYRIC OPERA OF CHICAGO
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 250,000

LINCOLN PARK ZOOLOGICAL SOCIETY (LINCOLN PARK ZOO)

2001 NORTH CLARK STREET
CHICAGO,IL60614 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

LINCOLN PARK CONSERVANCY

200 N RACINE SUITE 4800
CHICAGO,IL60614 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,250,000

JUNIOR ECONOMIC CLUB OF CHICAGO

1318 N LASALLE DRIVE
CHICAGO,IL60610 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

JUNIOR ECONOMIC CLUB OF CHICAGO

1318 N LASALLE DRIVE
CHICAGO,IL60610 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

JUNIOR ACHIEVEMENT OF CHICAGO

651 W WASHINGTON BLVD SUITE 404
CHICAGO,IL60661 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

JEWISH UNITED FUND

30 S WELLS STREET
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 550,000

JEWISH THEOLOGICAL SEMINARY

3080 BROADWAY
NEW YOR,NY10027 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

INTERNATIONAL MUSIC FOUNDATION

11 E ADAMS STREET SUITE 350B
CHICAGO,IL60603 		NONE PUBLIC CHARITY GENERAL SUPPORT 80,000

INTERDISCIPLINARY CENTER HERZLIYAAMERICAN FRIENDS OF IDC

142 W 57TH STREET FLOOR 11
NEW YORK,NY10019 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,400,000

INSTITUTE FOR JUSTICE

901 N GLOBE ROAD SUITE 900
ARLINGTON,VA22203 		NONE PUBLIC CHARITY GENERAL SUPPORT 2,000

INSTITUTE FOR HUMANE STUDIES

3434 WASHINGTON BOULEVARD MS 1C5
ARLINGTON,VA22201 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

IMENTOR INCORPORATED

199 WATER STREET 8TH FLOOR
NEW YORK,NY10038 		NONE PUBLIC CHARITY GENERAL SUPPORT 600,000

ILLINOIS ARTS ALLIANCE

200 W MADISON STREET FLOOR 3
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 10,000

HYDE PARK ART CENTER

5020 S CORNELL AVENUE
CHICAGO,IL60615 		NONE PUBLIC CHARITY GENERAL SUPPORT 10,000

HOLOCAUST MEMORIAL FOUNDATION OF ILLINOIS INC

9603 WOODS DRIVE
SKOKIE,IL60077 		NONE PUBLIC CHARITY GENERAL SUPPORT 40,000

HOLD ON TO YOUR MUSIC INC

2128 DUXBURY CIRCLE
LOS ANGELES,CA90034 		NONE PUBLIC CHARITY GENERAL SUPPORT 175,000

GRANT PARK ORCHESTRAL ASSOCIATION

205 E RANDOLPH STREET
CHICAGO,IL60601 		NONE PUBLIC CHARITY GENERAL SUPPORT 10,000

FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION INC (AKA FIRE)

510 WALNUT STREET SUITE 1250
PHILADELPHIA,PA19106 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,350,000

FACING HISTORY AND OURSELVES INC

16 HURD ROAD
BROOKLINE,MA02445 		NONE PUBLIC CHARITY GENERAL SUPPORT 150,000

ERIKSON INSTITUTE

451 N LASALLE STREET
CHICAGO,IL60654 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

COMMUNITYHEALTH

2611 W CHICAGO AVENUE
CHICAGO,IL60622 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

CHICAGO YOUTH SYMPHONY ORCHESTRAS (AKA CYSO)

410 S MICHIGAN AVE SUITE 833
CHICAGO,IL60605 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

CHICAGO SYMPHONY ORCHESTRA (SEMPRE ALWAYS CAMPAIGN)

410 S MICHIGAN AVE SUITE 833
CHICAGO,IL60604 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,000,000

CHICAGO SYMPHONY ORCHESTRA

410 S MICHIGAN AVENUE SUITE 833
CHICAGO,IL60604 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,260,000

CHICAGO PUBLIC LIBRARY FOUNDATION

200 W MADISON STREET FLOOR 3
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

CHICAGO PUBLIC EDUCATION (FUND V)

200 W ADAMS SUITE 1175
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

CHICAGO COUNCIL ON GLOBAL AFFAIRS

180 N STETSON AVENUE SUITE 1400
CHICAGO,IL60601 		NONE PUBLIC CHARITY GENERAL SUPPORT 15,000

CHICAGO COMMUNITY WEST MUSIC CENTER

100 N CENTRAL PARK AVENUE
CHICAGO,IL60624 		NONE PUBLIC CHARITY GENERAL SUPPORT 100,000

CHICAGO CHILDREN'S MUSEUM

NAVY PIER 700 E GRAND AVENUE SUITE
127
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 80,000

CHICAGO ARCHITECTURE BIENNIAL INC

78 E WASHINGTON STREET
CHICAGO,IL60602 		NONE PUBLIC CHARITY GENERAL SUPPORT 150,000

CHAIARTS FOUNDATION

PO BOX 772076
CHICAGO,IL60677 		NONE PUBLIC CHARITY GENERAL SUPPORT 415,000

CEDILLE CHICAGO NFP

1205 W BALMORAL AVENUE
CHICAGO,IL60640 		NONE PUBLIC CHARITY GENERAL SUPPORT 30,000

CATO INSTITUTE

1000 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20001 		NONE PUBLIC CHARITY GENERAL SUPPORT 20,000

BOWDOIN COLLEGE MUSEUM OF ART

4100 COLLEGE STATION
BRUNSWICK,ME04011 		NONE PUBLIC CHARITY GENERAL SUPPORT 35,000

BOULDER JEWISH COMMUNITY CENTER

6007 OREG AVENUE
BOULDER,CO80303 		NONE PUBLIC CHARITY GENERAL SUPPORT 150,000

BIRTHRIGHT ISRAEL FOUNDATION

PO BOX 21615
NEW YORK,NY10087 		NONE PUBLIC CHARITY GENERAL SUPPORT 250,000

BERNARD ZELL ANSHE EMET DAY SCHOOL

3751 N BROADWAY STREET
CHICAGO,IL60613 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,000,000

ART INSTITUTE OF CHICAGO

111 S MICHIGAN AVENUE
CHICAGO,IL60130 		NONE PUBLIC CHARITY GENERAL SUPPORT 5,000

ANN & ROBERT LURIE CHILDREN'S HOSPITAL OF CHICAGO

225 E CHICAGO AVENUE BOX 282
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 100,000

AMERICAN SYMPHONY ORCHESTRA LEAGUE (AKA LEAGUE OF AMERICAN ORCHESTRAS)

33 W 60TH STREET FLOOR 5
NEW YORK,NY10023 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

AMERICAN JEWISH COMMITTEE

165 E 56TH STREET
NEW YORK,NY10022 		NONE PUBLIC CHARITY GENERAL SUPPORT 50,000

AMERICAN FRIENDS OF MUSEUMS IN ISRAEL

405 LEXINGTON AVENUE 7TH FLOOR
SUITE 751
NEW YORK,NY10174 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

AMERICAN ENTERPRISE INSTITUTE

1789 MASSACHUSETTS AVENUE NW
WASHINGTON,DC20036 		NONE PUBLIC CHARITY GENERAL SUPPORT 14,000

AFTER SCHOOL MATTERS

66 E RANDOLPH STREET
CHICAGO,IL60601 		NONE PUBLIC CHARITY GENERAL SUPPORT 25,000

A BETTER CHICAGO

600 W VAN BUREN SUITE 510
CHICAGO,IL60607 		NONE PUBLIC CHARITY GENERAL SUPPORT 200,000

NATIONAL RAMAH COMMISSION INC

3080 BROADWAY 4TH FLOOR
NEW YORK,NY10027 		NONE PUBLIC CHARITY GENERAL SUPPORT 86,000
Total .................................right arrow 3a 26,879,604
bApproved for future payment

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ZELL GRADUATE FELLOWS 4,800,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (ZELL FOUNDERS FUND) 1,600,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (SZ/RL INSTITUTE) 5,600,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - ROSS SCHOOL OF BUSINESS (SZ/RL INSTITUTE) 1,600,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - POST-MFA WRITING FELLOWSHIP 4,400,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - MFA HZ EXPENDABLE FUND 1,281,000

UNIVERSITY OF MICHIGAN
500 S STATE STREET
ANN ARBOR,MI48109 		NONE PUBLIC CHARITY GENERAL SUPPORT - HZ WRITER'S PROGRAM 2,000,000

UNIVERSITY OF CHICAGO
5801 S ELLIS AVENUE
CHICAGO,IL60637 		NONE PUBLIC CHARITY GENERAL SUPPORT - CENTER FOR FREEDOM OF EXPRESSION 6,000,000

UNITED STATES HOLOCAUST MEMORIAL MUSEUM
100 RAOUL WALLENBERG PL SW
WASHINGTON,DC20024 		NONE PUBLIC CHARITY GENERAL SUPPORT 800,000

TEACH FOR ALL
25 BROADWAY 12TH FLOOR
NEW YORK,NY10004 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

ROCHELLE ZELL JEWISH HIGH SCHOOL
1095 LAKE COOK ROAD
DEERFIELD,IL60015 		NONE PUBLIC CHARITY GENERAL SUPPORT 3,500,000

NORTHWESTERN MEMORIAL FOUNDATION
541 N FAIRBANKS CT RM 1630
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 144,000

MUSEUM OF CONTEMPORARY ART
220 E CHICAGO AVE
CHICAGO,IL60611 		NONE PUBLIC CHARITY GENERAL SUPPORT 500,000

INTERDISCIPLINARY CENTER HERZLIYAAMERICAN FRIENDS OF IDC
142 W 57TH STREET FLOOR 11
NEW YORK,NY10019 		NONE PUBLIC CHARITY GENERAL SUPPORT 8,000,000

IMENTOR INCORPORATED
199 WATER STREET 8TH FLOOR
NEW YORK,NY10038 		NONE PUBLIC CHARITY GENERAL SUPPORT 650,000

FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION INC (AKA FIRE)
510 WALNUT STREET SUITE 1250
PHILADELPHIA,PA19106 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,350,000

FACING HISTORY AND OURSELVES INC
16 HURD ROAD
BROOKLINE,MA02445 		NONE PUBLIC CHARITY GENERAL SUPPORT 300,000

CHICAGO YOUTH SYMPHONY ORCHESTRAS (AKA CYSO)
410 S MICHIGAN AVE SUITE 833
CHICAGO,IL60605 		NONE PUBLIC CHARITY GENERAL SUPPORT 100,000

CHICAGO SYMPHONY ORCHESTRA
410 S MICHIGAN AVENUE SUITE 833
CHICAGO,IL60604 		NONE PUBLIC CHARITY GENERAL SUPPORT 1,307,000

CHICAGO PUBLIC EDUCATION FUND (FUND VI)
200 W ADAMS STREET SUITE 1175
CHICAGO,IL60606 		NONE PUBLIC CHARITY GENERAL SUPPORT 4,500,000

BERNARD ZELL ANSHE EMET DAY SCHOOL
3751 N BROADWAY STREET
CHICAGO,IL60613 		NONE PUBLIC CHARITY GENERAL SUPPORT 7,000,000
Total ................................. right arrow 3b 55,932,000
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 1,087,921  
4 Dividends and interest from securities ....     14 2,094,121  
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 .....     01    
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 3,857,254  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 7,039,296 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
7,039,296
(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
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Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


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Form 990-PF (2022)
Additional Data


Software ID:  
Software Version:  


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

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

36-3487811
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
ZELL FAMILY FOUNDATION
  		Employer identification number
36-3487811
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
SAMUEL ZELL VIA SAMUEL ZELL REVOCAB
2 N RIVERSIDE PLAZA STE 600
 
CHICAGO, IL60606

$ 1,693,217


(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
ZELL FAMILY FOUNDATION
  		Employer identification number

36-3487811
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
1
 PUBLICLY TRADED SECURITIES $ 1,693,217 2022-04-27
(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
ZELL FAMILY FOUNDATION
  		Employer identification number

36-3487811
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:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING FEES 49,000 24,500   24,500

TY 2022 AllOthProgRltdInvestmentsSch
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Category Amount
NOT APPLICABLE 0

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TY 2022 ExpenditureResponsibilityStmt
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
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
ZELL ENTREPRENEURSHIP FOUNDATION
  		2 N RIVERSIDE PLAZA SUITE 600
CHICAGO,IL60606 		2020-03-31 20,000,000 PURSUANT TO THE GRANT AGREEMENT DATED MARCH 31, 2020, THE GRANT IS TO BE USED IN GENERAL SUPPORT OF FURTHERING THE GRANTEE'S TAX-EXEMPT CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. 60,000 NO KNOWN DIVERSION OF FUNDS. 3/1/2023   N/A - REVIEW OF GRANTEE REPORT(S) DID NOT RESULT IN REASON TO DOUBT ACCURACY OR RELIABILITY.

TY 2022 InvestmentsCorpBondsSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Name of Bond End of Year Book Value End of Year Fair Market Value
PASHA LOAN 9,275,000 9,275,000
BANK OF AMERICA (MANAGED ACCOUNT #018) 33,397,354 33,397,354

TY 2022 InvestmentsCorpStockSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Name of Stock End of Year Book Value End of Year Fair Market Value
BANCO HIPOTECARIO ARS10 CL D - COMMON STOCK 114,478 114,478
BLACKSTONE MORTGAGE TRUST, INC. - COMMON STOCK 211,700 211,700
EQUITY RESIDENTIAL PROPERTIES 9,114,320 9,114,320
ENERFLEX LTD 1,693,596 1,693,596
PAR PACIFIC HOLDINGS, INC. - COMMON STOCK 2,325,000 2,325,000
PHARMALINK INTERNATIONAL LIMITED - COMMON STOCK 3,463,800 3,463,800
WESCO INTERNATIONAL, INC - COMMON STOCK 19,130,899 19,130,899

TY 2022 InvestmentsOtherSchedule2
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
CHATHAM ASSET HIGH YIELD OFFSHORE FUND,LTD FMV 13,843,278 13,843,278
HIGHBRIDGE SPAC OPPORTUNITY FUND FMV 7,765,823 7,765,823
MAP HERITAGE FUND (FKA: MAP 2006 (A) LP) FMV 595,128 595,128
ZFF GREYCASTLE HOLDINGS, LLC FMV 140,380 140,380

TY 2022 LegalFeesSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 73,599 36,799   36,799


TY 2022 OtherDecreasesSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Description Amount
UNREALIZED LOSS 11,466,279


TY 2022 OtherExpensesSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK FEES 634 634   0
MISCELLANEOUS EXPENSES 157 87   70


TY 2022 OtherIncomeSchedule2
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
THIRD PARTY INCOME/(LOSS) 0 1,137,790 0


TY 2022 OtherLiabilitiesSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Description Beginning of Year - Book Value End of Year - Book Value
OTHER PAYABLE 287,412 0


TY 2022 TaxesSchedule
Name:
ZELL FAMILY FOUNDATION
EIN:
36-3487811
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX 361,579 0   0
STATE TAXES 85,514 0   0
PENALTIES 2,025 0   0