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
THE SEWARD JOHNSON ATELIER INC
 
Number and street (or P.O. box number if mail is not delivered to street address)14 FAIRGROUNDS ROAD
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HAMILTON, NJ08619
A Employer identification number

45-5246642
B Telephone number (see instructions)

(609) 689-1040
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$63,774,311
J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books
(b) Net investment
income
(c) Adjusted net
income
(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 2,300,000
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,563 1,563  
4 Dividends and interest from securities...      
5a Gross rents............ 99,485    
b Net rental income or (loss) 99,485
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 708,826
b Less: Cost of goods sold.... 458,820
c Gross profit or (loss) (attach schedule)..... 250,006  
11 Other income (attach schedule)....... 1,013,779    
12 Total. Add lines 1 through 11........ 3,664,833 1,563  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 38,814     38,814
14 Other employee salaries and wages...... 1,318,506     1,318,506
15 Pension plans, employee benefits....... 567,275     567,275
16a Legal fees (attach schedule)......... 65,769     65,769
b Accounting fees (attach schedule)....... 30,000     30,000
c Other professional fees (attach schedule).... 245,944     245,944
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 22,968 13   22,955
19 Depreciation (attach schedule) and depletion... 617,537    
20 Occupancy.............. 499,244     499,244
21 Travel, conferences, and meetings....... 19,765     19,765
22 Printing and publications.......... 5,698     5,698
23 Other expenses (attach schedule)....... 1,709,523     1,709,523
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 5,141,043 13   4,523,493
25 Contributions, gifts, grants paid....... 0 0
26 Total expenses and disbursements. Add lines 24 and 25 5,141,043 13   4,523,493
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,476,210
b Net investment income (if negative, enter -0-) 1,550
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............. 150,674 402,332 402,332
2 Savings and temporary cash investments......... 257,349 8,825 8,825
3 Accounts receivable right arrow1,410,482
Less: allowance for doubtful accounts right arrow   1,546,264 1,410,482 1,410,482
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.............. 8,415,074 8,043,165 8,043,165
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule).......      
c Investments—corporate bonds (attach schedule).......      
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).......... 43,872 Click to see attachment
List of Attached Documents:
// Content
166,787
166,787
14 Land, buildings, and equipment: basis right arrow19,851,700
Less: accumulated depreciation (attach schedule) right arrow4,829,047 15,600,252 Click to see attachment
List of Attached Documents:
// Content
15,022,653
15,022,653
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
39,168,012
Click to see attachment
List of Attached Documents:
// Content
38,720,067
Click to see attachment
List of Attached Documents:
// Content
38,720,067
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 65,181,497 63,774,311 63,774,311
Liabilities 17 Accounts payable and accrued expenses.......... 435,874 634,933
18 Grants payable.................    
19 Deferred revenue................. 1,543,335 1,418,222
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
18,289
Click to see attachment
List of Attached Documents:
// Content
13,367
23 Total liabilities (add lines 17 through 22)......... 1,997,498 2,066,522
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........... 63,183,999 61,707,789
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)..... 63,183,999 61,707,789
30 Total liabilities and net assets/fund balances (see instructions). 65,181,497 63,774,311
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
63,183,999
2
Enter amount from Part I, line 27a .....................
2
-1,476,210
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
61,707,789
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
61,707,789
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.)
1a
b
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
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69
(j)
Adjusted basis
as of 12/31/69
(k)
Excess of col. (i)
over col. (j), if any
a
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  
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 22
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 22
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 22
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a  
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 22
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow   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 arrowNJ
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
Yes
 
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 arrow  
14
The books are in care ofright arrowTHE SEWARD JOHNSON ATELIER Telephone no.right arrow (609) 689-1040

Located atright arrow14 FAIRGROUNDS ROADHAMILTONNJ ZIP+4right arrow08619
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
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)
 
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
MICHAEL GREENLEAF TREASURER
010.00
38,814    
14 FAIRGROUNDS RD
HAMILTON,NJ08619
CHARLES BERRY DIRECTOR
000.00
0    
14 FAIRGROUNDS RD
HAMILTON,NJ08619
CAROLYN ROSSIP MALCOLM DIRECTOR
000.00
0    
14 FAIRGROUNDS RD
HAMILTON,NJ08619
JOHN S JOHNSON III CEO
010.00
0    
14 FAIRGROUNDS RD
HAMILTON,NJ08619
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
PAULA STOEKE CURATOR
040.00
248,514 17,878  
14 FAIRGROUNDS RD
HAMILTON,NJ08619
CLAIRE BROWN DIRECTOR OF JOHNSON
040.00
125,885 8,812  
14 FAIRGROUNDS RD
HAMILTON,NJ08619
LYNN DECLEMENTE PROGRAM OFFICER
040.00
115,149 8,060  
14 FAIRGROUNDS RD
HAMILTON,NJ08619
DANIEL PLONSKI PROJECT MANAGER
040.00
99,237    
14 FAIRGROUNDS RD
HAMILTON,NJ08619
SEN YANG SENIOR ACCOUNTANT
040.00
74,068 4,798  
14 FAIRGROUNDS RD
HAMILTON,NJ08619
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
JFO LLC CONSULTING 273,715
1 LAWYERS LANE
HOPEWELL,NJ08525
KALES NURSERY LANDSCAPING LANDSCAPING 65,602
133 CARTER RD
PRINCETON,NJ08540
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 PROMOTING APPRECIATION OF ARTWORK THROUGH EXHIBITIONS OF SCULPTURE IN THE PUBLIC DOMAIN FOR PUBLIC VIEWING 1,253,290
2 SALE OF ARTWORK TO PUBLIC ENTITIES FOR PUBLIC EXHIBITION 771,585
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
141,461
b
Average of monthly cash balances.......................
1b
416,575
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
558,036
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
 
3
Subtract line 2 from line 1d.........................
3
558,036
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
8,371
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
549,665
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
27,483
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
27,483
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
22
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
22
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
27,461
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
27,461
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
27,461
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 Click to see attachment
List of Attached Documents:
// Content
..........
1a
4,523,493
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
39,938
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
4,563,431
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 27,461
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only.......  
b Total for prior years:20, 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2017...... 4,882,173
b From 2018...... 2,570,728
c From 2019...... 4,620,291
d From 2020...... 2,420,638
e From 2021...... 4,359,108
f Total of lines 3a through e ........ 18,852,938
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 4,563,431
a Applied to 2021, but not more than line 2a  
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..... 27,461
e Remaining amount distributed out of corpus 4,535,970
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 23,388,908
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 ..........
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) .......
 
8 Excess distributions carryover from 2017 not
applied on line 5 or line 7 (see instructions) ...
4,882,173
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ......
18,506,735
10 Analysis of line 9:
a Excess from 2018.... 2,570,728
b Excess from 2019.... 4,620,291
c Excess from 2020.... 2,420,638
d Excess from 2021.... 4,359,108
e Excess from 2022.... 4,535,970
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
27,483 34,133 42,528 20,075 124,219
b 85% (0.85) of line 2a ......... 23,361 29,013 36,149 17,064 105,587
c Qualifying distributions from Part XI,
line 4 for each year listed .....
4,563,431 4,393,240 2,463,166 4,640,666 16,060,503
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 ....
4,563,431 4,393,240 2,463,166 4,640,666 16,060,503
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ...... 63,774,311 65,181,498 65,913,145 65,359,459 260,228,413
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)
63,363,154 64,773,475 65,482,574 65,282,836 258,902,039
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed ..
18,322 22,755 28,352 13,383 82,812
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) ....
         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii)....
         
(3) Largest amount of support
from an exempt organization
         
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2022)
Form 990-PF (2022)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
Foundation
status of
recipient
Purpose of grant or
contribution
Amount
Name and address (home or business)
aPaid during the year
Total .................................right arrow 3a  
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 1,563  
4 Dividends and interest from securities ....          
5 Net rental income or (loss) from real estate:
aDebt-financed property......     16 99,485  
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 ............
         
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory         250,006
11 Other revenue:
aEXHIBITION INCOME
900099       269,940
bARTISTIC SERVICE REVENUE 900099       591,384
cPUBLIC ENGAGEMENT 900099       26,680
dOTHER INCOME 900099       2,860
eINVESTMENT IN SUBSIDIARY 900099       122,915
12 Subtotal. Add columns (b), (d), and (e) ..   101,048 1,263,785
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,364,833
(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.)
10 THE FOUNDATION PRODUCES AND SELLS SCULPTURES FOR WHICH SALES ARE RESTRICTED FOR THE
CONT. PURPOSE OF PUBLIC ART AND PUBLIC VIEWING, WHICH SUSTAINS THE FOUNDATION AND ITS CHARITABLE
CONT. AND EDUCATIONAL PROGRAMS
11A THE FOUNDATION CONDUCTS EXHIBITIONS FOR PUBLIC VIEWING OF SCULPTURES AND ART WHICH
CONT. PROMOTES THE APPRECIATION AND EDUCATION ABOUT SCULPTURE AND PUBLIC ART IN GENERAL
11B THE FOUNDATION PROVIDES ARTISTIC SERVICES IN THE FORM OF REPAIR WORK OF SCULPTURES FOR
CONT. PUBLIC VIEWING WHICH CONTINUES TO PROMOTE THE APPRECIATION AND EDUCATION ABOUT
CONT. SCULPTURE AND PUBLIC ART IN GENERAL
11C THE FOUNDATION PROVIDES PUBLIC EDUCATION PROGRAMS TO THE PUBLIC
11E INVESTMENT IN A FUNCTIONALLY RELATED COMPANY
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: 22015461
Software Version: 22.0.1.0


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
THE SEWARD JOHNSON ATELIER INC
 
Employer identification number

45-5246642
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
THE SEWARD JOHNSON ATELIER INC
 
Employer identification number
45-5246642
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
THE ATLANTIC FOUNDATION
14 FAIRGROUNDS ROAD
 
HAMILTON, NJ08619

$ 2,300,000


(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
THE SEWARD JOHNSON ATELIER INC
 
Employer identification number

45-5246642
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
THE SEWARD JOHNSON ATELIER INC
 
Employer identification number

45-5246642
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: 22015461
Software Version: 22.0.1.0

TY 2022 AccountingFeesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PFK OCONNOR DAVIES, LLP 30,000     30,000

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

TY 2022 DepreciationSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
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
SEE ATTACHED SCHEDULE           617,537      

TY 2022 InvestmentsOtherSchedule2
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
INVESTMENT IN SUBSIDIARY FMV 166,787 166,787

TY 2022 LandEtcSchedule2
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
SEE ATTACHED REPORT 19,851,700 4,829,047 15,022,653 15,022,653


TY 2022 LegalFeesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
PATTERSON BELKNAP WEBB TYLER LLP 16,313     16,313
POWLEY GIBSON, P.C. 41,204     41,204
MORGAN LEWIS BOCKIUS LLP 8,252     8,252


TY 2022 MortgagesAndNotesPayableSch
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Total Mortgage Amount: 474,600

Item No. 1
Lender's Name SMALL BUSINESS ADMINISTRATION
Lender's Title  
Relationship to Insider  
Original Amount of Loan 474,600
Balance Due  
Date of Note  
Maturity Date  
Repayment Terms  
Interest Rate  
Security Provided by Borrower  
Purpose of Loan PAYROLL PROTECTION PROGRAM
Description of Lender Consideration  
Consideration FMV  


TY 2022 OtherAssetsSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
ART COLLECTION 33,870,731 34,043,618 34,043,618
WORK IN PROCESS 3,381,589 3,186,898 3,186,898
DOCUMENTARY WORK 232,192    
CHARGER PLATES 70,319 70,319 70,319
INTELLECTUAL PROPERTY- BOOKS 118,585 2,500 2,500
PREPAID EXPENSES- BOOKS 125,411 137,911 137,911
BOOKS INVENTORY 664,940 647,553 647,553
MERCHANDISE 10,503 10,503 10,503
CASTING DISPLAYS 20,999 20,999 20,999
MINIATURES 70,773 70,773 70,773
GOODWILL 600,620 525,543 525,543
EXCHANGE   3,450 3,450
PREPAID INSURANCE 1,350    


TY 2022 OtherExpensesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DIRECT PROJECT COSTS 716,259     716,259
OFFICE SUPPLIES 30,778     30,778
INSURANCE 118,359     118,359
AUTO EXPENSE 10,265     10,265
SHIPPING STORAGE 6,254     6,254
MARKETING 185,026     185,026
SMALL TOOLS ART SUPPLIES 110,292     110,292
BANK CHARGES FEES 2,725     2,725
POSTAGE DELIVERY 3,670     3,670
WEBSITE, INTERNET COMPUTER NETWORK 7,978     7,978
EQUIPMENT RENTAL MAINTENANCE 67,867     67,867
GARBAGE REMOVAL 16,030     16,030
GAS CYLINDER RNETAL 3,924     3,924
AMORTIZATION 425,854     425,854
EDUCATION SEMINARS 1,375     1,375
LICENSES FEES 1,399     1,399
MISCELLANEOUS 1,468     1,468


TY 2022 OtherIncomeSchedule2
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
EXHIBITION INCOME 269,940    
ARTISTIC SERVICE REVENUE 591,384    
PUBLIC ENGAGEMENT 26,680    
OTHER INCOME 2,860    
INVESTMENT IN SUBSIDIARY 122,915    


TY 2022 OtherLiabilitiesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Description Beginning of Year - Book Value End of Year - Book Value
PAYROLL LIABILITIES 7,423 7,861
SALES TAX PAYABLE 2,297 2,297
LEASE PAYABLE 8,569 3,209


TY 2022 OtherProfessionalFeesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
JFO,LLC 149,747     149,747
JC MAINTENANCE SOLUTIONS 25,280     25,280
STREAMLINE HR 4,455     4,455
COMPASSIONATE RETURN LLC 9,763     9,763
OTHER OUTSIDE SERVICES 56,699     56,699


TY 2022 SalesOfInventoryList 
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0

Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
Cost of Goods Sold)
SCULPTURE 699,000 441,451 257,549
BOOKS 9,826 17,369 -7,543

TY 2022 TaxesSchedule
Name:
THE SEWARD JOHNSON ATELIER INC
EIN:
45-5246642
Software ID:
22015461
Software Version:
22.0.1.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
REAL ESTATE TAXES 22,955     22,955
EXCISE TAX 13 13