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
Michael and Ina Korek Foundation Trust
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

77-6140213
B Telephone number (see instructions)

(800) 839-1754
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$8,906,009J 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) 10,256
2 Check right arrow.............
3 Interest on savings and temporary cash investments 355 355  
4 Dividends and interest from securities... 218,326 218,326  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 264,919
b Gross sales price for all assets on line 6a 1,442,217
7 Capital gain net income (from Part IV, line 2)... 265,510
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
-126,494 -3,699  
12 Total. Add lines 1 through 11........ 367,362 480,492  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 110,000     110,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
186,502 51,502   135,000
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
14,613 3,813    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
58,720 11,256   47,230
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 369,835 66,571   292,230
25 Contributions, gifts, grants paid....... 207,800 207,800
26 Total expenses and disbursements. Add lines 24 and 25 577,635 66,571   500,030
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -210,273
b Net investment income (if negative, enter -0-) 413,921
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......... 841,102 269,467 269,467
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
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) 718,549 Click to see attachment
List of Attached Documents:
// Content
728,339 		666,723
b Investments—corporate stock (attach schedule)....... 6,294,659 Click to see attachment
List of Attached Documents:
// Content
6,414,259 		6,264,438
c Investments—corporate bonds (attach schedule)....... 110,999 Click to see attachment
List of Attached Documents:
// Content
86,129 		70,619
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).......... 868,659 Click to see attachment
List of Attached Documents:
// Content
1,125,501 		1,634,762
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) 8,833,968 8,623,695 8,906,009
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)    
23 Total liabilities (add lines 17 through 22)......... 0 0
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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 8,833,968 8,623,695
29 Total net assets or fund balances (see instructions)..... 8,833,968 8,623,695
30 Total liabilities and net assets/fund balances (see instructions). 8,833,968 8,623,695
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
8,833,968
2
Enter amount from Part I, line 27a .....................
2
-210,273
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
8,623,695
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
8,623,695
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 Passthrough K1 Capital Gain/(Loss)      
c
d
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 1,442,217   1,209,257 232,960
b       32,550
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       232,960
b        
c
d
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 2 265,510
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 5,754
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 5,754
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 5,754
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 6,112
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 1,500
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 7,612
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 1,858
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow1,858 Refundedright arrow 11  
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$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
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 arrowCA
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 instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrow  
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
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)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
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
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Teresa Babb Managing Trustee
25.0 		60,000 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Brian Korek Executive Dir
20.0 		50,000 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Alek Dylan Peterlin Trustee
1.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Brock Peterlin Trustee
0.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
 
Total number of other employees paid over $50,000...................right arrow  
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
uncommon advertising 135,000
1331 21st Street
Sacramento,CA95811
Beacon Pointe Advisors LLC Investment Mgmt 51,502
900 East hamilton ave ste 120
CAMPBELL,CA95008
Total number of others receiving over $50,000 for professional services.............right arrow  
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 DANGERS OF BOATING UNDER THE INFLUENCE -FUNDING FREE ONGOING PUBLIC SERVICE ANNOUNCEMENTS TO EDUCATE THE PUBLIC TO ASSIST IN PREVENTING AND REDUCING HARM FROM BOATING ACCIDENTS. 135,000
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
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
7,553,192
b
Average of monthly cash balances.......................
1b
487,548
c
Fair market value of all other assets (see instructions)................
1c
1,443,947
d
Total (add lines 1a, b, and c).........................
1d
9,484,687
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
9,484,687
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
142,270
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
9,342,417
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
467,121
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
467,121
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
5,754
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
5,754
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
461,367
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
461,367
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
461,367
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
500,030
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
0
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
500,030
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 7 461,367
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 478,940
b Total for prior years:2020, 2019, 2018  
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 ........  
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 500,030
a Applied to 2021, but not more than line 2a 478,940
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2022 distributable amount..... 21,090
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2022.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		440,277
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2017 not
applied on line 5 or line 7 (see instructions) ... 		 
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.... 0
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).)
NONE
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here 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

A SAFE PLACE

PO BOX 23006
OAKLAND,CA94623 		N/A PC General & Unrestricted 3,000

AMERICAN BIRD CONSERVANCY

4249 LOUDOUN AVE BOX 249
THE PLAINS,VA20198 		N/A PC General & Unrestricted 2,000

ANIMAL LEGAL DEFENSE FUND

525 E COTATI AVE
COTATI,CA94931 		N/A PC General & Unrestricted 5,000

ASSOCIATION OF SMALL FOUNDATIONS DBA EXPONENT PHIL

1720 N ST NW
WASHINGTON,DC20036 		N/A PC General & Unrestricted 1,000

BAT WORLD SANCTUARY

299 HIGH POINT RD
WEATHERFORD,TX76088 		N/A PC General & Unrestricted 4,000

BERKELEY BAYIT INC

1569 SOLANO AVE UNIT 513
BERKELEY,CA94707 		N/A PC Capital Campaign 10,000

CENTER FOR BIOLOGICAL DIVERSITY INC

PO BOX 710
TUCSON,AZ85702 		N/A PC General & Unrestricted 4,000

CHABAD OF CALIFORNIA

741 GAYLEY AVE
LOS ANGELES,CA90024 		N/A PC General & Unrestricted 1,000

CHAC

590 W EL CAMINO REAL
MOUNTAIN VIEW,CA94040 		N/A PC General & Unrestricted 3,000

CHARITY GLOBAL INC - CHARITY WATER

PO BOX 5026
HAGERSTOWN,MD21741 		N/A PC General & Unrestricted 1,000

CHEETAH CONSERVATION FUND

PO BOX 2496
ALEXANDRIA,VA22301 		N/A PC General & Unrestricted 4,000

CHILD ADVOCATES OF SILICON VALLEY INC

509 VALLEY WAY BLDG 2
MILPITAS,CA95035 		N/A PC General & Unrestricted 5,000

COMMUNITY SCHOOL OF MUSIC AND ARTS

230 SAN ANTONIO CIR
MOUNTAIN VIEW,CA94040 		N/A PC General & Unrestricted 5,000

COMMUNITY SERVICES AGENCY

204 STIERLIN RD
MOUNTAIN VIEW,CA94043 		N/A PC General & Unrestricted 4,000

CONGREGATION SHIR HADASH

20 CHERRY BLOSSOM LN
LOS GATOS,CA95032 		N/A PC General & Unrestricted 1,000

CONSUMER REPORTS INC

101 TRUMAN AVE
YONKERS,NY10703 		N/A PC General & Unrestricted 500

COURAGE REINS

5870 W 10400 N STE C
HIGHLAND,UT84003 		N/A PC General & Unrestricted 1,000

COVENANT HOUSE CALIFORNIA

1325 N WESTERN AVE
LOS ANGELES,CA90027 		N/A PC General & Unrestricted 1,000

EARTHJUSTICE

50 CALIFORNIA ST SUITE 500
SAN FRANCISCO,CA94111 		N/A PC General & Unrestricted 4,000

GLAUCOMA RESEARCH FOUNDATION

251 POST ST STE 600
SAN FRANCISCO,CA94108 		N/A PC General & Unrestricted 1,000

GREENPEACE FUND INC

702 H ST NW STE 300
WASHINGTON,DC20001 		N/A PC General & Unrestricted 5,000

H E R WEEKEND INC

PO BOX 77
WOODLAND HLS,CA91365 		N/A PC General & Unrestricted 1,000

HIAS INC

PO BOX 97077
WASHINGTON,DC20090 		N/A PC General & Unrestricted 1,000

HONEST REPORTING COM INC

165 E 56TH ST 2ND FL
NEW YORK,NY10022 		N/A PC General & Unrestricted 1,000

HOOPS FOR HOPE INC

PO BOX 895
EAST HAMPTON,NY11937 		N/A PC General & Unrestricted 1,000

HOPE FOR PAWS

8950 W OLYMPIC BLVD 525
LOS ANGELES,CA90211 		N/A PC General & Unrestricted 1,000

HUMANE SOCIETY SILICON VALLEY

901 AMES AVE
MILPITAS,CA95035 		N/A PC General & Unrestricted 1,000

INTERNATIONAL PLANNED PARENTHOOD FEDERATION

125 MAIDEN LANE 9TH FL
NEW YORK,NY10038 		N/A PC General & Unrestricted 5,000

JEWISH FAMILY & CHILDRENS SERVICES

2150 POST ST
SAN FRANCISCO,CA94115 		N/A PC General & Unrestricted 1,000

KARMA CAT RESCUE

346 PAUL AVE
MOUNTAIN VIEW,CA94041 		N/A PC General & Unrestricted 1,000

KIDNEY CANCER ASSOCIATION

PO BOX 676226
DALLAS,TX75267 		N/A PC General & Unrestricted 1,000

MARINE MAMMAL CENTER

2000 BUNKER RD FORT CRONKHITE
SAUSALITO,CA94965 		N/A PC General & Unrestricted 3,000

MARS SOCIETY INC

11111 W 8TH AVE STE A
LAKEWOOD,CO80215 		N/A PC General & Unrestricted 1,000

MEDECINS SANS FRONTIERES USA INC - DOCTORS WITHOUT

PO BOX 5030
HAGERSTOWN,MD21741 		N/A PC General & Unrestricted 1,000

MENTOR TUTOR CONNECTION

PO BOX 391268
MOUNTAIN VIEW,CA94039 		N/A PC General & Unrestricted 1,000

MILLIES PRINCESS FOUNDATION

2873 E ETIENNE WAY
SANDY,UT84093 		N/A PC General & Unrestricted 1,000

MONTEREY BAY AQUARIUM FOUNDATION

886 CANNERY ROW
MONTEREY,CA93940 		N/A PC General & Unrestricted 1,000

MOTHERS AGAINST DRUNK DRIVING

511 E JOHN CARPENTER FREEWAY STE 70
IRVING,TX75062 		N/A PC Northern California Boating Under the influence program 52,800

NATIONAL ASSOCIATION OF STATE BOATING LAW ADMINIST

1020 MONARCH ST STE 200
LEXINGTON,KY40513 		N/A PC Operation Dry Water Campaign 1,000

NATURAL RESOURCES DEFENSE COUNCIL INC

40 WEST 20TH ST 11TH FLOOR
NEW YORK,NY10011 		N/A PC General & Unrestricted 2,000

NIKE ANIMAL RESCUE FOUNDATION

1784 EL CODO WAY
SAN JOSE,CA95124 		N/A PC General & Unrestricted 2,000

NOVA UKRAINE

3277 S WHITE RD PMB 8475
SAN JOSE,CA95148 		N/A PC General & Unrestricted 5,000

ONE CHILD

1900 MOWRY AVE STE 103
FREMONT,CA94538 		N/A PC General & Unrestricted 1,000

PALACE OF FINE ARTS LEAGUE INC

3301 LYON ST
SAN FRANCISCO,CA94123 		N/A PC General & Unrestricted 1,000

PAWS FOR PURPLE HEARTS

10201 OLD REDWOOD HWY
PENNGROVE,CA94951 		N/A PC General & Unrestricted 1,000

PENINSULA HUMANE SOCIETY & SPCA

1450 ROLLINS RD
BURLINGAME,CA94010 		N/A PC General & Unrestricted 2,000

PEOPLE FOR THE AMERICAN WAY FOUNDATION

1101 15TH ST NW STE 600
WASHINGTON,DC20005 		N/A PC General & Unrestricted 1,000

PERFORMING ANIMAL WELFARE SOCIETY

PO BOX 849
GALT,CA95632 		N/A PC General & Unrestricted 4,000

PETS IN NEED

871 5TH AVE
REDWOOD CITY,CA94063 		N/A PC for hiring temporary workers to get through hiring challenge while short of staff 5,000

PETS IN NEED

871 5TH AVE
REDWOOD CITY,CA94063 		N/A PC General & Unrestricted 1,000

PHYSICIANS FOR SOCIAL RESPONSIBILITY INC

1111 14TH ST NW STE 700
WASHINGTON,DC20005 		N/A PC General & Unrestricted 1,000

POPULATION CONNECTION

2120 L ST NW STE 500
WASHINGTON,DC20037 		N/A PC General & Unrestricted 1,000

PROSTATE CANCER RESEARCH INSTITUTE

300 CORPORATE POINTE STE 383
CULVER CITY,CA90230 		N/A PC General & Unrestricted 1,000

SAN FRANCISCO BAY BIRD OBSERVATORY

524 VALLEY WAY
MILPITAS,CA95035 		N/A PC General & Unrestricted 1,000

SECOND HARVEST OF SILICON VALLEY

4001 N 1ST ST
SAN JOSE,CA95134 		N/A PC General & Unrestricted 5,000

SIERRA CLUB FOUNDATION

2101 WEBSTER ST STE 1250
OAKLAND,CA94612 		N/A PC General & Unrestricted 5,000

SILICON VALLEY JEWISH FILM FESTIVAL

PO BOX 2190
CUPERTINO,CA95015 		N/A PC General & Unrestricted 1,000

SOLAR COOKERS INTERNATIONAL

2400 22ND ST STE 210
SACRAMENTO,CA95818 		N/A PC General & Unrestricted 2,000

TAWONGA JEWISH COMMUNITY CORPORATION

131 STEUART ST STE 460
SAN FRANCISCO,CA94105 		N/A PC General & Unrestricted 2,000

THE CENTER FOR INVESTIGATIVE REPORTING INC

1400 65TH ST STE 200
EMERYVILLE,CA94608 		N/A PC General & Unrestricted 1,000

THE DIAN FOSSEY GORILLA FUND INTERNATIONAL

800 CHEROKEE AVE SE
ATLANTA,GA30315 		N/A PC General & Unrestricted 1,000

THE ELEPHANT SANCTUARY IN TENNESSEE

PO BOX 393
HOHENWALD,TN38462 		N/A PC General & Unrestricted 5,000

THE MANKIND PROJECT

PO BOX 383
KAYSVILLE,UT84037 		N/A PC MKP USA Marketing - Program OnBoarding and development with focus on cultural training and racial justice 5,000

THE TECH INTERACTIVE

201 S MARKET ST
SAN JOSE,CA95113 		N/A PC General & Unrestricted 1,000

THEATREWORKS SILICON VALLEY

350 TWIN DOLPHIN DR STE 127
REDWOOD CITY,CA94065 		N/A PC General & Unrestricted 1,000

UTILITY REFORM NETWORK

785 MARKET ST SUITE 1400
SAN FRANCISCO,CA94103 		N/A PC General & Unrestricted 1,000

WILDERNESS SOCIETY

1801 PENNSYLVANIA AVE NW STE 200
WASHINGTON,DC20006 		N/A PC General & Unrestricted 2,000

WILDLIFE CONSERVATION NETWORK INC

209 MISSISSIPPI ST
SAN FRANCISCO,CA94107 		N/A PC General & Unrestricted 4,000

YOUNG MENS CHRISTIAN ASSOCIATION SILICON VALLEY

80 SARATOGA AVE
SANTA CLARA,CA95051 		N/A PC General & Unrestricted 500

YOUTHLINC

1166 E BRICKYARD RD
SALT LAKE CTY,UT84106 		N/A PC General & Unrestricted 1,000
Total .................................right arrow 3a 207,800
bApproved for future payment
Total ................................. right arrow 3b  
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 ........... 		    14 355  
4 Dividends and interest from securities ....     14 218,326  
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 -591 18 265,510  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aK-1 Inc/Loss 		525990 -124,868 14 -3,747  
bFederal Tax Refund     01 2,073  
cCLASS ACTION LAWSUIT PROCEEDS     01 48  
d
e
12 Subtotal. Add columns (b), (d), and (e) .. -125,459 482,565  
13Total. Add line 12, columns (b), (d), and (e)..................
13
357,106
(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
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
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
Michael and Ina Korek Foundation Trust
 
Employer identification number

77-6140213
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
Michael and Ina Korek Foundation Trust
  		Employer identification number
77-6140213
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 Michael Korek - Brian Kor
132 Hamilton Court
 
Los Altos, CA94022

$ 10,256


(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
Michael and Ina Korek Foundation Trust
  		Employer identification number

77-6140213
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
Michael and Ina Korek Foundation Trust
  		Employer identification number

77-6140213
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:  
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TY 2022 DepreciationSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included

TY 2022 GeneralExplanationAttachment
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Identifier Return Reference Explanation
part I line 6A (990-PF) Part I line 6a (990-PF) RECONCILIATION OF NET GAIN/(LOSS) FROM SALES OF ASSETS NOT INCLUDED IN PART IV TOTAL INCLUDED IN PART IV: (DETAILS BELOW) NET GAIN/(LOSS): $265,510 TOTAL NOT INCLUDED IN PART IV: PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - UBI NET GAIN/(LOSS): $(591) TOTAL PART I, LINE 6A: $264,919 DETAILS OF ASSETS INCLUDED IN PART IV: PUBLICLY-TRAIDED SECURITIES GROSS SALES PRICE: $1,442,217 BOOK BASIS: $1,209,257 NET GAIN/(LOSS): $232,960 PASSTHROUGH K-1 CAPITAL GAIN/(LOSS) - NON UBI NET GAIN/(LOSS): $32,550

TY 2022 InvestmentsCorpBondsSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Name of Bond End of Year Book Value End of Year Fair Market Value
LEHMAN BRTHRS HLDGS - 0.000% -    
MARSHFIELD CLINIC HLTH SYS INC 15,085 12,395
OCCIDENTAL COLLEGE - 3.015% - 30,010 22,359
PREMIER HEALTH PARTNERS SER 20 31,251 26,391
TEMECULA CALIF REDEV AGY REF B 9,783 9,474

TY 2022 InvestmentsCorpStockSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Name of Stock End of Year Book Value End of Year Fair Market Value
3M CO 2,592 1,559
ACCENTURE PLC 2,669 2,668
ADOBE SYSTEMS, INC 6,482 4,375
AGNICO EAGLE MINES LTD 62,544 60,776
ALPHABET INC CL A 8,647 7,235
AMAZON COM 6,761 3,696
AMERICAN TOWER REIT INC 6,430 5,297
AMGEN INC 19,835 21,274
ANALOG DEVICES INC 2,897 3,117
APPLE INC 3,043 3,118
ATLASSIAN CORP CL A 2,600 1,802
AUTODESK, INC 4,436 2,990
BARRICK GOLD CORPORATION 41,336 39,136
BAXTER INTERNATIONAL INC 10,213 9,226
BECTON DICKINSON & CO 2,351 2,543
BERKSHIRE HATHAWAY INC. CLASS 155,066 189,665
BIO RAD LABS INC CL A 4,346 2,943
BIOGEN INC 1,974 1,938
BLOCK INC 4,271 1,634
C H ROBINSON WORLDWIDE INC 3,304 3,021
CADENCE DESIGN SYSTEMS INC 2,952 3,855
CHIPOTLE MEX GRILL 2,722 2,775
CISCO SYSTEMS INC 32,595 36,778
CITIGROUP INC 99,847 84,671
COGNIZANT TECHNOLOGY SOLUTIONS 2,911 2,288
COLGATE-PALMOLIVE COMPANY 21,405 20,643
COMCAST CORP 39,336 34,620
CONAGRA FOODS INC 21,075 21,749
CORTEVA INC 31,192 39,324
CVS CAREMARK CORP 28,107 29,914
DANAHER CORP 5,560 5,308
DOLLAR GENERAL CORP 22,109 25,856
DOMINION ENERGY INC 36,549 31,702
DOUBLELINE CORE FIXED INCOME I 176,664 149,155
DOUBLELINE TOTAL RETURN BOND 602,914 494,829
DU PONT DE NEMOURS 64,734 56,757
DYNATRACE 3,867 2,949
ECOLAB INC 2,896 2,038
EDWARDS LIFESCIENCES 3,991 3,059
ENPHASE ENERGY ORD SHS 1,123 1,855
EQUITY COMMONWEALTH 45,823 39,752
FAIRFAX FINL HLDGS LTD 78,922 122,389
FEDEX CORPORATION 88,576 72,571
FIRST EAGLE GLOBAL FUND CLASS 659,643 681,941
FORTIVE CORPORATION 3,133 2,827
GEN DYNAMICS CP 2,091 2,729
GENERAL MOTORS 94,315 90,391
GLOBAL PAYMENTS INC 33,852 17,977
GQG PARTNERS EMERGING MARKETS 509,815 471,065
GRAINGER W W INC 21,588 26,144
GRIFFIN INSTITUTIONAL ACCESS R 398,139 422,518
GROUPE DANONE ADS 75,793 63,272
HOME DEPOT INC 5,888 6,633
IDEXX CORP 4,432 3,264
INGREDION INC 30,365 38,584
INT'L FLAVORS & FRAGRANCES INC 3,629 2,726
INTUIT 5,148 3,892
JOHNSON & JOHNSON 83,618 116,589
JONES LANG LASALLE 9,066 10,040
JP MORGAN CHASE 70,346 87,567
LENNAR CORP 83,290 96,021
LIBERTY GLOBAL PLC - SERIES C 115,064 90,039
LIBERTY LATIN AMERICA (FORMERL 5,946 1,733
LOEWS CORP 54,039 60,197
LORD ABBETT HIGH YIELD FD CL I 424,170 414,129
LOWES COMPANIES INC 23,477 24,108
LUMEN TECHNOLOGIES INC 73,468 29,916
MAGNA INTERNATIONAL INC 79,938 91,405
MARSH AND MCLENNAN COMPANIES I 20,304 24,326
MARVELL TECHNOLOGY, INC 3,927 3,000
MEDTRONIC PLC 69,670 49,741
MERCK & CO INC 41,124 57,472
MICROCHIP TECHNOLOGY INC 28,119 27,538
MICROSOFT CORP 67,677 78,661
MONDELEZ INTERNATIONAL INC 22,274 24,727
MONOLITHIC POWER SYSTEMS, INC 2,973 3,182
MSCI INC 3,293 3,256
NIKE INC-CL B 24,780 25,274
NOVO NORDISK A S 2,502 3,790
NVIDIA CORP 4,282 3,800
ORACLE CORP 5,091 5,231
PEPSICO INC 1,184 1,445
PERRIGO CO PLC 20,415 16,227
PIONEER ILS INTERVAL FUND 375,394 357,498
POWER CORPORATION OF CANADA 60,944 73,649
PROCTER GAMBLE CO 1,778 1,970
QUEST DIAGNOSTICS 14,333 17,052
RAYTHEON TECHNOLOGIES CORP 3,567 4,138
RECKITT BENCKISER GROUP 2,799 2,254
ROCHE HOLDING LTD ADR 2,996 2,701
ROSS STORES, INC 22,782 23,446
SERVICE NOW 3,851 3,106
SPDR BARCLAYS CAPITAL 1-3 MONT 133,767 133,821
SPROTT PHYSICAL GOLD TRUST 242,361 297,848
STARBUCKS CORP COM 17,905 21,824
STATE STREET CORPORATION 25,608 23,426
STONE RIDGE REINSURANCE RISK P 2,430 2,074
SYSCO CORP 29,381 27,675
THE BLACKSTONE GROUP INC CL A 3,193 1,929
THE COCA-COLA CO 19,991 23,281
THE JM SMUCKER COMPANY 22,931 27,414
THERMO FISHER SCIENTIFIC INC 26,114 29,187
THOR INDS INC 33,176 31,706
TJX COMPANIES INC 9,329 16,477
TRAVELERS COMPANIES INC 24,340 39,373
UNILEVER PLC AMER 64,195 57,651
UNITED PARCEL SERVICE 27,249 24,164
UNITEDHEALTH GROUP INC 22,510 27,039
US BANCORP 31,891 22,590
VERISK ANALYTICS, INC 4,454 4,234
VERIZON COMMUNICATIONS 45,195 34,357
VISA INC 8,052 8,103
VODAFONE GROUP PLC 148,075 62,906
WAL-MART STORES INC 2,372 2,410
WALT DISNEY HOLDINGS CO 22,983 21,025
WEST PHARMA SVCS INC 2,778 1,883

TY 2022 InvestmentsGovtObligationsSch
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
US Government Securities - End of Year Book Value:

25,010
US Government Securities - End of Year Fair Market Value:

24,992
State & Local Government Securities - End of Year Book Value:


703,329
State & Local Government Securities - End of Year Fair Market Value:


641,731


TY 2022 InvestmentsOtherSchedule2
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BGV IV, LP   122,789 159,896
BGV OPPORTUNITY FUND, L.P   188,447 246,863
PARTNERS GROUP PRIVATE EQUITY   440,025 566,443
REDWOOD-KAIROS REAL ESTATE VAL   135,303 311,571
REDWOOD-KAIROS REAL ESTATE VAL   238,937 349,989

TY 2022 OtherExpensesSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 47,030     47,030
Bank Charges 1,154 1,154    
K-1 Exp BGV IV, LP 5,465 5,465    
K-1 Exp BGV OPPORTUNITY FUND, 4,595 4,595    
K-1 Exp REDWOOD-KAIROS REAL ES 275 42    
K-1 Exp REDWOOD-KAIROS REAL ES 1      
State or Local Filing Fees 200     200


TY 2022 OtherIncomeSchedule2
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
K-1 Inc/Loss BGV IV, LP 106 106  
K-1 Inc/Loss BGV OPPORTUNITY FUND, L.P 2,720 2,720  
K-1 Inc/Loss REDWOOD-KAIROS REAL ESTATE VALUE FUN -22,091 -3,513  
K-1 Inc/Loss REDWOOD-KAIROS REAL ESTATE VALUE FUN -109,350 -3,060  
Class Action Lawsuit Proceeds 48 48  
Federal Tax Refund 2,073    


TY 2022 OtherProfessionalFeesSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 51,502 51,502    
ADVERTISING SERVICES - DCA 135,000     135,000


TY 2022 TaxesSchedule
Name:
Michael and Ina Korek Foundation Trust
EIN:
77-6140213
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2022 3,700      
990-PF Extension for 2021 7,100      
Foreign Tax Paid 3,813 3,813