Form990-PF


Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
For calendar year 2021, or tax year beginning 07-01-2021 , and ending 06-30-2022
Name of foundation
TERRA FOUNDATION FOR AMERICAN ART
 
Number and street (or P.O. box number if mail is not delivered to street address)120 EAST ERIE STREET
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CHICAGO, IL60611
A Employer identification number

36-2999442
B Telephone number (see instructions)

(312) 654-2269
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$559,052,944J 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 Check bullet.............
3 Interest on savings and temporary cash investments 392 240,696  
4 Dividends and interest from securities... 4,457,147 5,111,778  
5a Gross rents............ 4,331 4,331  
b Net rental income or (loss) 4,331
6a Net gain or (loss) from sale of assets not on line 10 92,001,146
b Gross sales price for all assets on line 6a 533,751,364
7 Capital gain net income (from Part IV, line 2)... 103,817,439
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 380,634 362,852 1,370
12 Total. Add lines 1 through 11........ 96,843,650 109,537,096 1,370
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 1,611,719 80,746 0 1,525,973
14 Other employee salaries and wages...... 1,832,824 6,529 0 1,834,863
15 Pension plans, employee benefits....... 787,949 13,947 0 815,808
16a Legal fees (attach schedule)......... Click to see attachment 61,915 0 0 50,276
b Accounting fees (attach schedule)....... Click to see attachment 56,939 11,388 0 45,551
c Other professional fees (attach schedule).... Click to see attachment 2,582,466 2,027,561 0 506,151
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 527,530 0 0 0
19 Depreciation (attach schedule) and depletion... Click to see attachment 496,460 0 1,370
20 Occupancy.............. 980,854 19,526 0 886,956
21 Travel, conferences, and meetings....... 173,292 2,589 0 161,601
22 Printing and publications.......... 24,262 0 0 23,081
23 Other expenses (attach schedule)....... Click to see attachment 1,123,686 693,438 0 1,077,173
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 10,259,896 2,855,724 1,370 6,927,433
25 Contributions, gifts, grants paid....... 16,798,220 12,354,606
26 Total expenses and disbursements. Add lines 24 and 25 27,058,116 2,855,724 1,370 19,282,039
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 69,785,534
b Net investment income (if negative, enter -0-) 106,681,372
c Adjusted net income (if negative, enter -0-)... 0
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2021)
Form 990-PF (2021)
Page 2
Part II Balance Sheets 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............. 556,155 263,179 263,179
2 Savings and temporary cash investments.........      
3 Accounts receivable bullet46,016
Less: allowance for doubtful accounts bullet   35,571 46,016 46,016
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges.......... 193,735 129,932 129,932
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 252,792,433 Click to see attachment110,372,426 110,372,426
c Investments—corporate bonds (attach schedule)....... 35,130,092 Click to see attachment14,180,301 14,180,301
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 151,022,099 Click to see attachment242,818,113 242,818,113
14 Land, buildings, and equipment: basis bullet12,617,176
Less: accumulated depreciation (attach schedule) bullet5,814,351 7,358,660 Click to see attachment6,802,825 6,802,825
15 Other assets (describe bullet) Click to see attachment184,417,560 Click to see attachment184,440,152 Click to see attachment184,440,152
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 631,506,305 559,052,944 559,052,944
Liabilities 17 Accounts payable and accrued expenses.......... 539,664 442,794
18 Grants payable................. 8,154,106 12,597,720
19 Deferred revenue................. 1,961,477 2,330,476
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet) Click to see attachment1,981,405 Click to see attachment90,330
23 Total liabilities (add lines 17 through 22)......... 12,636,652 15,461,320
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 389,507,286 350,323,668
25 Net assets with donor restrictions............ 229,362,367 193,267,956
Foundations that do not follow FASB ASC 958, check here bullet
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)..... 618,869,653 543,591,624
30 Total liabilities and net assets/fund balances (see instructions). 631,506,305 559,052,944
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
618,869,653
2
Enter amount from Part I, line 27a .....................
2
69,785,534
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
688,655,187
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
145,063,563
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
543,591,624
Form 990-PF (2021)
Form 990-PF (2021)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a CAPITAL GAIN      
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 533,751,364   429,933,925 103,817,439
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       103,817,439
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 2 103,817,439
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 (2021)
Form 990-PF (2021)
Page 4
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet 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)
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 1,482,871
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 1,482,871
6 Credits/Payments:
a 2021 estimated tax payments and 2020 overpayment credited to 2021 6a 1,464,670
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 25,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,489,670
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 6,799
11 Enter the amount of line 10 to be: Credited to 2022 estimated taxBullet6,799 RefundedBullet 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    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)
    bulletIL
    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 2021 or the taxable year beginning in 2021? 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 (2021)
    Form 990-PF (2021)
    Page 5
    Part VI-A
    Statements Regarding Activities (continued)
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment.................
    12
    Yes
     
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletWWW.TERRAAMERICANART.ORG
    14
    The books are in care ofbulletANNE MUNSCH - TERRA FOUNDATION Telephone no.bullet (312) 654-2269

    Located atbullet120 EAST ERIE STREETCHICAGOIL ZIP+4bullet60611
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2021, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country? .................
    16Yes  
    See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
    country bulletFR
    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
    ........bullet
    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 2021? .............
    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 2021, did the foundation have any undistributed income (lines 6d
    and 6e, Part XII) for tax year(s) beginning before 2021?....................
    2a
     
    No
    If "Yes," list the years bullet20, 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.
    bullet20, 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 2021 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2021.) .....................
    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 2021? ..
    4b
     
    No
    Form 990-PF (2021)
    Form 990-PF (2021)
    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)
    Yes
     
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions ........................
    5a(4)
    Yes
     
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals? .............
    5a(5)
     
    No
    b
    If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
    5b
     
    No
    c
    .........bullet
    d
    If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant? .................
    5d
    Yes
     
    If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
    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
    HUEY COPELAND DIRECTOR
    1.00     		10,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    NORA DALEY DIRECTOR/VICE CHAIR
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    AMINA DICKERSON DIRECTOR
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    JOSEPH GROMACKI DIRECTOR/CHAIR
    1.00     		10,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    CHARLES HARPER DIRECTOR/TREASURER
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    STEPHANIE HARRIS DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    ERICA HIRSHLER DIRECTOR/SECRETARY
    1.00     		10,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    MICHAEL LEJA DIRECTOR/SECRETARY (FORMER)
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    HENRY LOYRETTE DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    RAYMOND MCGUIRE DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    CLARE MUNANA DIRECTOR
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    ANNE MUNSCH CFO, ASST SEC/TREASURER
    35.00     		403,732 29,512 0
    120 E ERIE STREET
    CHICAGO,IL60611
    MORTON SHAPIRO DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    CARL THOMA DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    ADAM WEINBERG DIRECTOR
    1.00     		10,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    GREG WILLIAMSON DIRECTOR
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    JAY XU DIRECTOR
    1.00     		10,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    AMY ZINCK EXEC VICE PRESIDENT
    35.00     		627,885 29,476 0
    120 E ERIE STREET
    CHICAGO,IL60611
    SHARON CORWIN CEO, PRESIDENT
    35.00     		500,102 37,645 0
    120 E ERIE STREET
    CHICAGO,IL60611
    ERIC MCKISSACK DIRECTOR
    1.00     		5,000 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    RAVI SALIGRAM DIRECTOR
    1.00     		0 0 0
    120 E ERIE STREET
    CHICAGO,IL60611
    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
    CARRIE HASLETT PROGRAM DIRECTOR
    35.00     		163,908 16,238 0
    120 EAST ERIE ST
    CHICAGO,IL60611
    JENNIFER SIEGENTHALER PROGRAM DIRECTOR
    35.00     		135,672 13,387 0
    120 EAST ERIE ST
    CHICAGO,IL60611
    CATHERINE RICCIARDELLI DIRECTOR OF REG
    35.00     		110,766 9,808 0
    120 EAST ERIE ST
    CHICAGO,IL60611
    DIEGO CANDIL DIRECTOR TFAA
    35.00     		107,896 0 0
    121 RUE DE LILLE
    PARIS   75007
    FR
    FRANCESCA ROSE DEPUTY DIRECTOR, PAR
    35.00     		106,411 0 0
    121 RUE DE LILLE
    PARIS   75007
    FR
    Total number of other employees paid over $50,000...................bullet 12
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 7
    Part VII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    ARABELLA ADVISORS LLC CONSULTING FEES 131,800
    1201 CONNECTICUT AVE NW
    WASHINGTON,DC20036
    NORTHERN TRUST INVESTMENT MANAGEMENT 78,769
    50 S LASALLE STREET
    CHICAGO,IL60603
    LAZARD ASSET MANAGEMENT LLC INVESTMENT MANAGEMENT 72,805
    30 ROCKEFELLER PLAZA
    NEW YORK,NY10112
    ADVANCED MECHANICAL SYSTEMS INC FACILITY MAINTENANCE 59,627
    425 E ALGONQUIN RD
    ARLINGTON HEIGHTS,IL60005
    JS BOILLET FACILITY REPAIR 57,962
    7 BIS RUE DE LA CROIX BLANCHE
    SAINT MARCEL   27950
    FR
    Total number of others receiving over $50,000 for professional services.............bullet2
    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 GRANTS WERE AWARDED TO 94 EDUCATIONAL & PUBLIC INSTITUTIONS FOR EXHIBITIONS, EDUCATIONAL PROGRAMS & SYMPOSIA, FELLOWSHIPS & PUBLICATIONS. 12,353,766
    2 DIRECT ACTIVITIES TO ADVANCE THE FIELD OF AMERICAN ART, INCLUDING EXHIBITIONS, SCHOLARLY RESEARCH, PUBLICATIONS AND EDUCATIONAL & RESIDENCY PROGRAMS. 311,942
    3 FELLOWSHIP AND RESEARCH GRANTS WERE AWARDED TO INDIVIDUALS FOR ART EDUCATION. ALL GRANTS TO INDIVIDUALS ARE MONITORED BY TERRA FOUNDATION STAFF. 840
    4   0
    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.........................bullet0
    Form 990-PF (2021)
    Form 990-PF (2021)
    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
    173,335,157
    b
    Average of monthly cash balances.......................
    1b
    1,135,045
    c
    Fair market value of all other assets (see instructions)................
    1c
    242,818,113
    d
    Total (add lines 1a, b, and c).........................
    1d
    417,288,315
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    417,288,315
    4
    Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
    instructions) .............................
    4
    6,259,325
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. .......
    5
    411,028,990
    6
    Minimum investment return. Enter 5% (0.05) of line 5................
    6
    20,551,450
    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
    20,551,450
    2a
    Tax on investment income for 2021 from Part V, line 5.......
    2a
    1,482,871
    b
    Income tax for 2021. (This does not include the tax from Part V.) ...
    2b
    44,978
    c
    Add lines 2a and 2b............................
    2c
    1,527,849
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    19,023,601
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    379,264
    5
    Add lines 3 and 4............................
    5
    19,402,865
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
    7
    19,402,865
    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
     
    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
     
    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
     
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 9
    Part XII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2020     		(c)
    2020     		(d)
    2021
    1 Distributable amount for 2021 from Part X, line 7 19,402,865
    2 Undistributed income, if any, as of the end of 2021:
    a Enter amount for 2020 only....... 19,183,593
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2021:
    a From 2016......  
    b From 2017......  
    c From 2018......  
    d From 2019......  
    e From 2020......  
    f Total of lines 3a through e ........ 0
    4Qualifying distributions for 2021 from Part
    XI, line 4: bullet$ 19,292,653
    a Applied to 2020, but not more than line 2a 19,183,593
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		0
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2021 distributable amount..... 109,060
    e Remaining amount distributed out of corpus 0
    5 Excess distributions carryover applied to 2021. 0 0
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ..........     		0
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		0
    d Subtract line 6c from line 6b. Taxable amount
    —see instructions ...........     		0
    e Undistributed income for 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		0
    f Undistributed income for 2021. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2022 ..........     		19,293,805
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		0
    8 Excess distributions carryover from 2016 not
    applied on line 5 or line 7 (see instructions) ...     		0
    9 Excess distributions carryover to 2022.
    Subtract lines 7 and 8 from line 6a ......     		0
    10 Analysis of line 9:
    a Excess from 2017....  
    b Excess from 2018....  
    c Excess from 2019....  
    d Excess from 2020....  
    e Excess from 2021....  
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 10
    Part XIII
    Private Operating Foundations (see instructions and Part VI-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2021, enter the date of the ruling ....... bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2021 (b) 2020 (c) 2019 (d) 2018
             
    b 85% (0.85) of line 2a .........          
    c Qualifying distributions from Part XI,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ..........     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets" alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment" alternative test— enter 2/3
    of minimum investment return shown in
    Part IX, line 6 for each year listed ..     		         
    c “Support" alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XIV
    Supplementary Information (Complete this part only if the foundation had $5,000 or more in
    assets at any time during the year—see instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
    AMY ZINCK
    120 E ERIE STREET
    CHICAGO,IL60611
    (312) 654-2263
    bThe form in which applications should be submitted and information and materials they should include:
    PLEASE CONSULT OUR WEBSITE "WWW.TERRAAMERICANART.ORG" FOR GRANT APPL. DETAILS
    cAny submission deadlines:
    VARIOUS
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    PLEASE CONSULT OUR WEBSITE "WWW.TERRAAMERICANART.ORG" FOR GRANT APPLICATION DETAILS.
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 11
    Part XIV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    6018NORTH
    6018 N KENMORE AVE
    CHICAGO,IL606602954     		  PC ART EDUCATION 10,000
    AFRICA INTERNATIONAL HOUSE USA INC
    6200 S DREXEL AVE
    CHICAGO,IL606372630     		  PC ART EDUCATION 25,000
    AMERICAN ACADEMY IN ROME
    535 W 22ND ST THIRD FLOOR
    NEW YORK,NY10011     		  PC ART EDUCATION 76,450
    AMERICAN ANTIQUARIAN SOCIETY
    185 SALISBURY STREET
    WORCESTER,MA01609     		  PC ART EDUCATION 5,000
    ARCHIVES OF AMERICAN ART SMITHSONIAN INSTITUTION
    MRC510 BOX 37012
    WASHINGTON,DC20013     		  PC ART EDUCATION 24,000
    ART GALLERY OF ONTARIO
    317 DUNDAS STREET WEST
    TORONTO   M5T 1G4
    CA     		  NC ART EDUCATION 25,000
    ART GALLERY OF ONTARIO
    317 DUNDAS STREET WEST
    TORONTO   M5T 1G4
    CA     		  NC ART EDUCATION 25,000
    ASIA SOCIETY
    725 PARK AVENUE
    NEW YORK,NY100215025     		  PC ART EDUCATION 20,000
    ASSOCIATION OF ART MUSEUM CURATORS FOUNDATION
    205 LEXINGTON AVENUE SUITE 901
    NEW YORK,NY100160000     		  PC ART EDUCATION 35,000
    BALZEKAS MUSEUM OF LITHUANIAN CULTURE
    6500 S PULASKI ROAD
    CHICAGO,IL606295150     		  PC ART EDUCATION 20,000
    BARBICAN CENTRE TRUST
    SILK STREET
    LONDON   EC2Y 8DS
    UK     		  NC ART EDUCATION 200,000
    BARD COLLEGE
    30 CAMPUS RD
    ANNANDALE,NY125049800     		  PC ART EDUCATION 20,000
    BARNES FOUNDATION
    2025 BENJAMIN FRANKLIN PARKWAY
    PHILADELPHIA,PA19130     		  PC ART EDUCATION 175,000
    BERKELEY ART MUSEUM & PACIFIC FILM ARCHIVE
    2195 HEARST AVE RM 120 MC 1104
    BERKELEY,CA947201083     		  PC ART EDUCATION 190,000
    BROOKLYN MUSEUM
    200 EASTERN PARKWAY
    BROOKLYN,NY11238     		  PC ART EDUCATION 75,000
    CENTER FOR NATIVE FUTURES
    56 W ADAMS STREET SUITE 102
    CHICAGO,IL60603     		  PC ART EDUCATION 25,000
    CENTER FOR NATIVE FUTURES
    56 W ADAMS STREET SUITE 102
    CHICAGO,IL60603     		  PC ART EDUCATION 50,000
    CENTRE POMPIDOU
    4 RUE BRANTME
    PARIS   75003
    FR     		  PC ART EDUCATION 150,000
    CENTRE POMPIDOU
    4 RUE BRANTME
    PARIS   75003
    FR     		  PC ART EDUCATION 195,000
    CHICAGO ARCHITECTURE BIENNIAL
    78 E WASHINGTON STREET
    CHICAGO,IL60602     		  PC ART EDUCATION 10,000
    CHICAGO ARCHITECTURE CENTER
    111 E WACKER DRIVE SUITE 1321
    CHICAGO,IL60601     		  PC ART EDUCATION 49,500
    CHICAGO HISTORY MUSEUM
    1601 N CLARK ST
    CHICAGO,IL60614     		  PC ART EDUCATION 35,000
    CHICAGO HISTORY MUSEUM
    1601 N CLARK ST
    CHICAGO,IL60614     		  PC ART EDUCATION 20,000
    CHICAGO HUMANITIES FESTIVAL
    500 N DEARBORN
    CHICAGO,IL606547659     		  PC ART EDUCATION 30,000
    CHICAGO PUBLIC LIBRARY FOUNDATION (CPLF)
    200 W MADISON AVE
    CHICAGO,IL60606     		  PC ART EDUCATION 40,000
    CHISENHALE GALLERY
    64 CHISENHALE ROAD
    LONDON   E3 5QZ
    UK     		  NC ART EDUCATION 27,000
    CLARK UNIVERSITY
    950 MAIN ST
    WORCESTER,MA016101400     		  PC ART EDUCATION 14,904
    COLBY COLLEGE MUSEUM OF ART
    4365 MAYFLOWER HILL DRIVE
    WATERVILLE,ME04901     		  PC ART EDUCATION 25,000
    COLLEGE ART ASSOCIATION
    50 BROADWAY 21ST FLOOR
    NEW YORK,NY10004     		  PC ART EDUCATION 24,355
    COLLEGE ART ASSOCIATION
    50 BROADWAY 21ST FLOOR
    NEW YORK,NY10004     		  PC ART EDUCATION 184,010
    COPENHAGEN CONTEMPORARY
    REFSHALEVEJ 173A
    COPENHAGEN   1432
    DA     		  NC ART EDUCATION 225,000
    COURTAULD INSTITUTE OF ART
    THE COURTAULD INSTITUTE OF ART
    LONDON   WC1X 9EW
    UK     		  NC ART EDUCATION 12,000
    COURTAULD INSTITUTE OF ART
    THE COURTAULD INSTITUTE OF ART
    LONDON   WC1X 9EW
    UK     		  NC ART EDUCATION 91,600
    DAVID AND ALFRED SMART MUSEUM OF ART
    5550 S GREENWOOD AVE
    CHICAGO,IL60637     		  PC ART EDUCATION 100,000
    DENVER ART MUSEUM
    100 W 14TH AVE PARKWAY
    DENVER,CO80204     		  PC ART EDUCATION 100,000
    DEPARTMENT OF ARTS AND CULTURAL STUDIES UNIVERSITY OF COPENHAGEN
    KAREN BLIXENS VEJ 1
    COPENHAGEN   2300
    DA     		  PC ART EDUCATION 25,000
    DEPAUL UNIVERSITY-DEPAUL ART MUSEUM
    1 E JACKSON BLVD
    CHICAGO,IL60604     		  PC ART EDUCATION 20,000
    DOSHISHA UNIVERSITY KYOTO KOBE UNIVERSITY KOBE
    GRADUATE SCHOOL OF AMERICAN STUDIES
    KYOTO   602-8580
    JA     		  NC ART EDUCATION 130,950
    EL MUSEO DEL BARRIO
    1230 FIFTH AVENUE
    NEW YORK,NY10029     		  PC ART EDUCATION 118,000
    FACHGEBIET ARCHITEKTUR- UND KUNSTGESCHICHTE TECHNISCHE UNIVERSITT DARMSTADT
    EL-LISSITZKY STRASSE 1
    DARMSTADT   64287
    GM     		  PC ART EDUCATION 11,950
    FONDATION BEYELER
    BASELSTRASSE 101
    RIEHENBASEL   4125
    SZ     		  NC ART EDUCATION 150,000
    FRANK LLOYD WRIGHT TRUST
    209 S LASALLE ST
    CHICAGO,IL60604     		  PC ART EDUCATION 16,550
    FREIE UNIVERSITT BERLIN - JOHN-F-KENNEDY-INSTITUT FR NORDAMERIKASTUDIEN
    LANSSTR 7-9
    BERLIN   14195
    GM     		  PC ART EDUCATION 70,000
    FUNDAO DE APOIO UNIVERSIDADE FEDERAL DE SO PAULO
    RUA DR DIOGO DE FARIA 1087 - 8
    ANDAR CJ 801-804
    SO PAULO   04037003
    BR     		  NC ART EDUCATION 45,610
    FUNDAO DE APOIO UNIVERSIDADE FEDERAL DE SO PAULO
    RUA DR DIOGO DE FARIA 1087 - 8
    ANDAR CJ 801-804
    SO PAULO   04037003
    BR     		  NC ART EDUCATION 25,000
    GEORGIA MUSEUM OF ART
    324 BUSINESS SRVCS 456 E BROAD ST
    ATHENS,GA306020001     		  PC ART EDUCATION 25,000
    GWZO EV
    REICHSSTR 4-6
    LEIPZIG   04109
    GM     		  NC ART EDUCATION 69,000
    HELLENIC AMERICAN UNIVERSITY
    436 AMHERST STREET
    NASHUA,NH030631213     		  PC ART EDUCATION 25,000
    HESSISCHES LANDESMUSEUM DARMSTADT
    HESSISCHES LANDESMUSEUM DARMSTADT
    DARMSTADT   64283
    GM     		  PC ART EDUCATION 50,000
    HUMBOLDT-UNIVERSITT ZU BERLIN
    UNTER DEN LINDEN 6
    BERLIN   10099
    GM     		  PC ART EDUCATION 82,400
    HYDE PARK ART CENTER
    5020 SOUTH CORNELL
    CHICAGO,IL60615     		  PC ART EDUCATION 29,680
    HYDE PARK ART CENTER
    5020 SOUTH CORNELL
    CHICAGO,IL60615     		  PC ART EDUCATION 14,660
    ILLINOIS INSTITUTE OF TECHNOLOGY INSTITUTE OF DESIGN
    10 W 35TH STREET
    CHICAGO,IL60616     		  PC ART EDUCATION 25,000
    INSTITUT NATIONAL D'HISTOIRE DE L'ART
    2 RUE VIVIENNE
    PARIS   75002
    FR     		  PC ART EDUCATION 39,800
    INTUIT THE CENTER FOR INTUITIVE AND OUTSIDER ART
    756 N MILWAUKEE AVENUE
    CHICAGO,IL60642     		  PC ART EDUCATION 20,000
    INTUIT THE CENTER FOR INTUITIVE AND OUTSIDER ART
    756 N MILWAUKEE AVENUE
    CHICAGO,IL60642     		  PC ART EDUCATION 35,000
    INTUIT THE CENTER FOR INTUITIVE AND OUTSIDER ART
    756 N MILWAUKEE AVENUE
    CHICAGO,IL60642     		  PC ART EDUCATION 31,350
    JOHN NICHOLAS BROWN CENTER FOR PUBLIC HUMANITIES AND CULTURAL HERITAGE BROW
    BOX 1929
    PROVIDENCE,RI029120001     		  PC ART EDUCATION 23,000
    KALAMAZOO INSTITUTE OF ARTS
    314 SOUTH PARK STREET
    KALAMAZOO,MI49007     		  PC ART EDUCATION 65,000
    KRANNERT ART MUSEUM
    HENRY ADMINISTRATION BUILDING
    URBANA,IL618013620     		  PC ART EDUCATION 25,000
    LE LABORATOIRE DE RECHERCHES SUR LES CULTURES ANGLOPHONES
    LARCA
    PARIS   75205
    FR     		  PC ART EDUCATION 25,000
    MARY & LEIGH BLOCK MUSEUM OF ART
    40 ARTS CIRCLE DR
    EVANSTON,IL60208     		  PC ART EDUCATION 50,000
    MARY & LEIGH BLOCK MUSEUM OF ART
    40 ARTS CIRCLE DR
    EVANSTON,IL60208     		  PC ART EDUCATION 25,000
    MUSE DE LORANGERIE
    62 RUE DE LILLE
    PARIS CEDEX   75343
    FR     		  PC ART EDUCATION 125,000
    MUSE DU QUAI BRANLY - JACQUES CHIRAC
    222 RUE DE LUNIVERSIT
    PARIS   75007
    FR     		  PC ART EDUCATION 96,500
    MUSEO NACIONAL THYSSEN-BORNEMISZA
    PASEO DEL PRADO 8
    MADRID   28014
    SP     		  NC ART EDUCATION 115,207
    MUSEUM OF FINE ARTS BOSTON
    465 HUNTINGTON AVE
    BOSTON,MA02115     		  PC ART EDUCATION 200,000
    MUSEUM OF FINE ARTS BOSTON
    465 HUNTINGTON AVE
    BOSTON,MA02115     		  PC ART EDUCATION 10,000
    MUSEUM OF FINE ARTS BOSTON
    465 HUNTINGTON AVE
    BOSTON,MA02115     		  PC ART EDUCATION 5,000
    MUSEUM OF VERNACULAR ARTS AND KNOWLEDGE
    4940 S EAST END AVE APT 19C
    CHICAGO,IL606153164     		  PC ART EDUCATION 25,000
    NATIONAL GALLERY OF ART
    2000 SOUTH CLUB DRIVE
    LANDOVER,MD20785     		  PC ART EDUCATION 250,000
    NATIONAL MUSEUM OF MEXICAN ART
    1852 W 19TH ST
    CHICAGO,IL606082706     		  PC ART EDUCATION 10,000
    NATIONAL PUBLIC HOUSING MUSEUM
    625 N KINGSBURY ST
    CHICAGO,IL606546997     		  PC ART EDUCATION 50,000
    NEW-YORK HISTORICAL SOCIETY
    170 CENTRAL PARK WEST
    NEW YORK,NY10024     		  PC ART EDUCATION 613
    NEW-YORK HISTORICAL SOCIETY
    170 CENTRAL PARK WEST
    NEW YORK,NY10024     		  PC ART EDUCATION 75,000
    PALAIS DE LA PORTE DORE
    293 AVENUE DAUMESNIL
    PARIS   75012
    FR     		  PC ART EDUCATION 73,651
    REBUILD FOUNDATION
    6760 S STONY ISLAND AVENUE
    CHICAGO,IL60649     		  PC ART EDUCATION 75,000
    RIJKSMUSEUM AMSTERDAM
    POSTBUS 74888
    AMSTERDAM   1070 DN
    NL     		  NC ART EDUCATION 81,000
    ROBERTS DR ELEANOR MAY
    GROVE HOUSE ROEHAMPTON LANE
    LONDON   SW15 5PJ
    UK     		  NC ART EDUCATION 840
    ROCHESTER INSTITUTE OF TECHNOLOGY
    1 LOMB MEMORIAL DRIVE
    ROCHESTER,NY14623     		  PC ART EDUCATION 50,000
    RUTGERS UNIVERSITY FOUNDATION
    335 GEORGE ST
    NEW BRUNSWICK,NJ089012036     		  PC ART EDUCATION 26,470
    SITE SANTA FE
    1606 PASEO DE PERALTA
    SANTA FE,NM87501     		  PC ART EDUCATION 10,000
    SMARTHISTORY
    10 WOODBROOK RD
    PLEASANTVILLE,NY105702511     		  PC ART EDUCATION 66,000
    SMARTHISTORY
    10 WOODBROOK RD
    PLEASANTVILLE,NY105702511     		  PC ART EDUCATION 50,000
    SMITHSONIAN AMERICAN ART MUSEUM AND THE RENWICK GALLERY
    1000 JEFFERSON DR SW
    WASHINGTON,DC205600008     		  PC ART EDUCATION 204,930
    SMITHSONIAN AMERICAN ART MUSEUM AND THE RENWICK GALLERY
    1000 JEFFERSON DR SW
    WASHINGTON,DC205600008     		  PC ART EDUCATION 75,000
    SOUTH SIDE COMMUNITY ART CENTER
    3831 S MICHIGAN AVE
    CHICAGO,IL606531513     		  PC ART EDUCATION 625,000
    SOUTH SIDE COMMUNITY ART CENTER
    3831 S MICHIGAN AVE
    CHICAGO,IL606531513     		  PC ART EDUCATION 10,000
    SWISS INSTITUTE
    117 SECOND AVE FLOOR 2
    NEW YORK,NY10003     		  PC ART EDUCATION 160,000
    SWISS INSTITUTE
    117 SECOND AVE FLOOR 2
    NEW YORK,NY10003     		  PC ART EDUCATION 3,600
    TATE
    MILLBANK
    LONDON   SW1P 4RG
    UK     		  NC ART EDUCATION 60,000
    TERRA FOUNDATION FOR AMERICAN ART FUND
    225 NORTH MICHIGAN AVE
    CHICAGO,IL60601     		  PC ART EDUCATION 3,750,000
    THE ART INSTITUTE OF CHICAGO
    111 S MICHIGAN AVENUE
    CHICAGO,IL60603     		  PC ART EDUCATION 55,000
    THE ART INSTITUTE OF CHICAGO
    111 S MICHIGAN AVENUE
    CHICAGO,IL60603     		  PC ART EDUCATION 47,000
    THE FIELD MUSEUM
    1400 S DUSABLE LAKESHORE
    CHICAGO,IL606050000     		  PC ART EDUCATION 75,000
    THE INSTITUTE OF CONTEMPORARY ARTBOSTON
    25 HARBOR SHORE DRIVE
    BOSTON,MA02210     		  PC ART EDUCATION 150,000
    THE LIBRARY COMPANY OF PHILADELPHIA
    1314 LOCUST STREET
    PHILADELPHIA,PA19107     		  PC ART EDUCATION 5,000
    THE METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		  PC ART EDUCATION 36,760
    THE METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		  PC ART EDUCATION 175,000
    THE METROPOLITAN MUSEUM OF ART
    1000 FIFTH AVENUE
    NEW YORK,NY10028     		  PC ART EDUCATION 75,000
    THE MUSEUM OF CONTEMPORARY PHOTOGRAPHY
    600 S MICHIGAN AVE
    CHICAGO,IL60605     		  PC ART EDUCATION 20,000
    THE NEWBERRY LIBRARY
    60 WEST WALTON STREET
    CHICAGO,IL60610     		  PC ART EDUCATION 20,000
    THE STUDIO MUSEUM IN HARLEM
    144 W 125TH STREET
    NEW YORK,NY100274423     		  PC ART EDUCATION 1,000,000
    UKRAINIAN INSTITUTE OF MODERN ART
    2320 W CHICAGO AVE
    CHICAGO,IL606224722     		  PC ART EDUCATION 34,455
    UNIVERSIT PARIS NANTERRE
    200 AVENUE DE LA RPUBLIQUE
    NANTERRE   92001
    FR     		  PC ART EDUCATION 51,250
    UNIVERSITY OF EDINBURGH - EDINBURGH COLLEGE OF ART
    74 LAURISTON PLACE
    EDINBURGH   EH3 9DF
    UK     		  NC ART EDUCATION 45,000
    UNIVERSITY OF IOWA - STANLEY MUSEUM OF ART
    150 N RIVERSIDE DR
    IOWA CITY,IA52242     		  PC ART EDUCATION 75,000
    UNIVERSITY OF MARYLAND - DAVID C DRISKELL CENTER
    1214 COLE STUDENT ACTIVITIES BLDG
    COLLEGE PARK,MD20742     		  PC ART EDUCATION 50,000
    UNIVERSITY OF MIAMI
    1320 S DIXIE HIGHWAY
    CORAL GABLES,FL331462968     		  PC ART EDUCATION 25,000
    UNIVERSITY OF OXFORD
    WELLINGTON SQUARE
    OXFORD   OX1 2JD
    UK     		  PC ART EDUCATION 168,065
    UNIVERSITY OF PENNSYLVANIA PENN LIBRARIES
    3420 WALNUT ST
    PHILADELPHIA,PA191046205     		  PC ART EDUCATION 20,900
    UNIVERSITY OF ST ANDREWS
    WARDLAW MUSEUM UNIVERSITY OF ST
    ANDREWS
    ST ANDREWS   KY16 9AE
    UK     		  NC ART EDUCATION 5,096
    WHITNEY MUSEUM OF AMERICAN ART
    99 GANSEVOORT ST
    NEW YORK,NY100141404     		  PC ART EDUCATION 250,000
    WOODMERE ART MUSEUM
    9201 GERMANTOWN AVENUE
    PHILADELPHIA,PA19118     		  PC ART EDUCATION 10,000
    YALE UNIVERSITY DEPARTMENT OF THE HISTORY OF ART
    LORIA CENTER
    NEW HAVEN,CT065118924     		  PC ART EDUCATION 25,000
    ZURBARN CENTRE FOR SPANISH AND LATIN AMERICAN ART
    ELVET RIVERSIDE BLOCK 2
    DURHAM   DH1 3JT
    UK     		  NC ART EDUCATION 45,500
    Total .................................bullet 3a 12,354,606
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2021)
    Form 990-PF (2021)
    Page 12
    Part XV-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    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 ...........     		    14 392  
    4 Dividends and interest from securities ....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....     16 4,331  
    6 Net rental income or (loss) from personal property          
    7 Other investment income .....          
    8 Gain or (loss) from sales of assets other than
    inventory ............     		    18 92,001,146  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aROYALTIES     		        1,370
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e) .. 0 96,842,280 1,370
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    96,843,650
    (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.)
    11A ROYALTIES ARE DERIVED FROM THE SALE OF ART REPRODUCTIONS SOLD AT NONPROFIT MUSEUMS AND INSTITUTIONS FOR EDUCATIONAL PURPOSES.
    Form 990-PF (2021)
    Form 990-PF (2021)
    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.
    Bullet Bullet
    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 PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2021)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2021 AccountingFeesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PLANTE MORAN 56,939 11,388 0 45,551

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

    TY 2021 DepreciationSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    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
    BUILDING & IMPROVEMENTS 2013-06-30 10,068,758 3,769,994 SL 30.000000000000 338,598 0 338,598  
    FURNITURE & EQUIPMENT 2013-06-30 2,053,025 1,118,045 SL 15.000000000000 120,913 0 120,913  
    COMPUTER EQUIPMENT & SOFTWARE 2013-06-30 495,393 429,852 SL 3.000000000000 36,949 0 36,949  

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

    TY 2021 ExpenditureResponsibilityStmt
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
    BARBICAN CENTRE TRUST
          		SILK STREET
    LONDON   EC2Y 8DS
    UK     		2021-04-30 318,000 ISAMU NOGUCHI (WORKING TITLE) 182,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 5/12/2022    
    BARBICAN CENTRE TRUST
          		SILK STREET
    LONDON   EC2Y 8DS
    UK     		2022-01-28 200,000 CAROLEE SCHNEEMANN 200,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 12/1/21, 5/13/22, 7/12/22    
    COURTAULD INSTITUTE OF ART
          		VERNON SQUARE PENTON RISE
    LONDON   WC1X 9EW
    UK     		2017-09-05 50,000 UK ARCHIVES 50,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 9/29/22,10/15/21,1/25/21,09/25/20, 09/13/2019, 09/14/2018    
    COURTAULD INSTITUTE OF ART
          		VERNON SQUARE PENTON RISE
    LONDON   WC1X 9EW
    UK     		2020-06-30 66,600 TFAA IMMERSION SEMESTERSTHREE SEPARATE GRANT DATES: $22,200 6/1/18, $22,200 6/27/19 AND $22,200 6/30/20 66,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 10/1/18, 6/27/19, 06/30/20, 9/30/20, 10/26/21, 9/29/22    
    COURTAULD INSTITUTE OF ART
          		VERNON SQUARE PENTON RISE
    LONDON   WC1X 9EW
    UK     		2019-10-24 275,000 CENTRE FOR AMERICAN ART (SECOND CYCLE)THREE SEPARATE GRANTS 10/24/19 $91,700, 2/26/21 $91,700 AND 4/21/22 $91,600 210,845 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 9/30/20, 3/74/22    
    COURTAULD INSTITUTE OF ART
          		VERNON SQUARE PENTON RISE
    LONDON   WC1X 9EW
    UK     		2021-09-22 12,000 AMERICAN ART AND THE POLITICAL IMAGINATION 12,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 8/31/22, 9/23/22    
    DOSHISHA UNIVERSITY LYOTO KOBE UNIVERSITY KOBE
          		GRADUATE SCHOOL OF AMERICAN STUDIES
    KYOTO   602-8580
    JA     		2018-04-26 281,900 VISITING PROFESSORSHIP IN AMERICAN ARTTHREE GRANT DATES: 4/26/18 $20,000 ,11/21/19 $130,950 AND 9/22/21 $130,950 264,558 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 9/10/19, 11/20/20, 11/20/20, 5/31/21, 2/7/23    
    FONDATION BEYELER
          		BASELSTRASSE 101
    RIEHENBASEL    
    SZ     		2022-01-28 150,000 GEORGIA O'KEEFFE 150,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 10/27/22    
    MODERN ART OXFORD
          		30 PEMBROKE STREET
    OXFORD   OX1 1BP
    UK     		2020-06-30 200,000 RUTH ASAWA: CITIZEN OF THE UNIVERSE 200,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 4/29/21, 4/29/22, 3/14/23    
    MUSEU DE ARTE DE SAO PAULO
          		AV PAULISTA 1578
    SAO PAULO   01310-200
    BR     		2022-02-15 45,610 ART ACROSS THE AMERICAS:PROFESSORSHIP AND INTERDISCIPLINARY WORKSHOPS & CONFERENCE 44,743 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 10/7/21, 2/14/23, 4/15/23    
    UNIVERSITE PARIS NANTERRE
          		200 AVENUE DE LA REPUBLIQUE BAT A -
    BUREAU 107
    NANTERRE   92001
    FR     		2017-12-21 255,750 JOINT RESEARCH AND TEACHING FELLOWSHIP LINKING UNIVERSITE PARIS DIDEROT AND UNIVERSITE PARIS NANTERREFOUR GRANT DATES: 12/31/17 $4,500, 6/29/18 $50,000, 6/27/20 $50,000, 6/30/20 $50,000, 5/28/21 $50,000 AND 6/3/22 $51,250 250,415 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 5/2/18, 5/15/18, 5/3/19, 5/6/20, 6/8/20, 3/30/21, 4/25/21, 4/4/22, 4/18,23    
    RIJKSMUSEUM AMSTERDAM
          		POSTBUS 74888
    AMERSTERDAM   1070 DN
    NL     		2020-01-31 165,000 TERRA FOUNDATION POSTDOCTORAL RESEARCH FELLOWSHIPS IN AMERICAN PHOTOGRAPHY AT THE RIJKSMUSEUMGRANT DATES: 1/31/20 $28,000, 2/3/21 $56,000, 12/2/21 $68,500 AND 4/21/22 $12,500REQUESTED REFUND OF $13,393. GRANTEE WILL NOT RECEIVE ADDITIONAL FUNDS UNTIL THIS REFUND IS RECEIVED. 151,608 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 2/28/20, 9/12/19, 2/26/21, 3/1/22, 11/29/22    
    UNIVERSITY OF ST ANDREWS WARDLAW MUSEUM
          		87 NORTH STREET
    ST ANDREWS   KY16 9AE
    UK     		2021-01-22 5,096 DOROTHEA TANNING: UNHEARD-OF NEWS 4,157 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 10/22/21, 10/20/22    
    TATE BRITAIN
          		MILLBANK
    LONDON   SW1P 4RG
    UK     		2020-05-29 250,000 BRUCE NAUMAN 200,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 4/30/21, 4/29/22    
    TATE BRITAIN
          		MILLBANK
    LONDON   SW1P 4RG
    UK     		2019-08-16 200,000 TERRA FOUNDATION FOR AMERICAN ART SERIES: NEW PERSPECTIVESGRANTS 8/29/19 $140,000 AND 8/26/21 $60,000 92,613 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 5/15/20, 5/13/21, 5/13/22    
    TATE BRITAIN
          		MILLBANK
    LONDON   SW1P 4RG
    UK     		2020-04-30 100,000 PHILIP GUSTON NOW 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 5/28/21, 5/31/22    
    UNIVERSITY OF EDINBURGH
          		OLD COLLEGE SOUTH BRIDGE
    EDINBURGH   EH8 9YL
    UK     		2017-03-23 184,850 ANTHOLOGY: EUROPEAN WRITING ON THE ART OF THE UNITED STATES 1945-1990FOUR GRANT DATES: 3/23/17 $68,550, 11/3/17 $60,100, 6/1/18 $12,200 AND 4/25/19 $44,000 171,466 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 9/28/17, 12/21/17, 10/9/18, 7/13/20,7/21/21 GRANTEE DELINQUINT    
    ART GALLERY OF ONTARIO
          		317 DUNDAS STREET WEST
    TORONTO,ONTARIOM5T 1G4
    CA     		2021-10-28 50,000 AABAAKWAD 2021 & 2022 50,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 3//31/22, 6/30/22    
    CHISENHALE GALLERY
          		64 CHISENHALE ROAD
    LONDON   E3 5QZ
    UK     		2022-06-29 27,000 CIRCE 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION.      
    COPENHAGEN CONTEMPORARY
          		REFSHALEVEJ 173A
    COPENHAGEN   1432
    DA     		2022-01-28 225,000 LIGHT & SPACE 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. REPORTING WILL BE DONE FY 2023    
    FUNDACAO DE APOIO A UNIVERSIDADE FEDERAL DE SAO PAULO
          		RUA DR DIOGO DE FARIA 1097-8 ANDAR
    SAO PAULO   04037003
    BR     		2021-12-22 25,000 35TH CIHA WORLD CONGRESS MOTION:MIGRATIONSREMAINING AMOUNT OF GRANT TO BE RETURNED TO TFAA AS A REFUND 13,817 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 3/27/22    
    GWZO EV
          		REICHSSTR 4-6
    LEIPZIG   04109
    GM     		2022-01-28 69,000 LINKING ART WORLDS: AMERICAN ART AND EASTERN EUROPE IN THE COLD WAR AND SINCE 24,546 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 2/5/23    
    MAREMUZEUL DE ARTA RECENTA
          		PRIMAVERII 15
    BUCHAREST   011971
    RO     		2021-01-28 27,000 VOICED ON: CONCEPTUAL AMERICAN ART IN PUBLIC PROGRAMMING AT MARE/MUSEUM OF RECENT ART BUCHAREST 22,400 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 1/31/22, 3/2/23    
    MUSEO NACIONAL THYSSEN-BORNEMISZA
          		PASEO DEL PRADO 8
    MADRID   28014
    SP     		2020-10-29 473,998 TERRA FOUNDATION RESEARCH FELLOWSHIP IN AMERICAN PAINTING10/29/20 $66,891, 5/28/21 $10,000, 12/22/21 $98,407 AND 4/21/22 $16,800 163,835 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 7/13/20,1/29/21,5/17/21,3/31/22    
    NATIONAL GALLERY SINGAPORE
          		1 ST ANDREWS ROAD 01-01
    SINGAPORE   178957
    SN     		2021-06-24 75,000 NAM JUNE PAIK:THE FUTURE IS NOWNO FURTHER GRANTS WILL BE DISTRIBUTED UNTIL THE REPORT IS SUBMITTED 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. IN THE PROCESS OF COLLECTING A DELINQUENT REPORT    
    ROYAL ACADEMY OF THE ARTS
          		BURLINGTON HOUSE PICCADILLY
    LONDON   W1J0BD
    UK     		2020-10-01 50,000 COVID-19 RELIEF FUNDING 50,000 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. 3/7/23    
    UNIVERSITY OF EDINBURGH - EDINBURGH COLLEGE OF ART
          		74 LAURISTON PLACE
    EDINBURGH   EH3 9DF
    UK     		2022-04-04 45,000 HOT ART, COLD WAR: THREE EASTERN EUROPEAN WORKSHOPS 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. REPORTS ARE DELINQUENT ATTEMPTING TO COLLECT NO FURTHER GRANT FUNDS    
    ZURBARAN CENTRE FOR SPANISH AND LATIN AMERICAN ART
          		ELVET RIVERSIDE BLOCK 2 NEW ELVET
    DURHAM   DH1 3JT
    UK     		2021-09-22 45,000 HOT ART, COLD WAR: TWO SOUTHERN EUROPEAN WORKSHOPS 0 TO THE KNOWLEDGE OF THE GRANTOR, THE GRANTEE HAS NOT DIVERTED ANY PORTION. NONE IN PROCESS OF RECOVERING REPORTS NO FURTHER GRANT FUNDS    

    TY 2021 InvestmentsCorpBondsSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ISHARES 1-3 YEAR TREASURY BOND ETF 3,112,324 3,112,324
    ISHARES SHORT TREASURY BOND ETF 2,694,147 2,694,147
    PGIM GLOBAL TOTAL RETURN 5,732,029 5,732,029
    ISHARES TIPS BOND ETF 2,641,801 2,641,801

    TY 2021 InvestmentsCorpStockSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Name of Stock End of Year Book Value End of Year Fair Market Value
    CASH 8,934,197 8,934,197
    ARTISAN INTERNATIONAL VALUE FUND 23,487,439 23,487,439
    LSV VALUE EQUITY 16,707,057 16,707,057
    SANDERS 36,667,420 36,667,420
    VULCAN VALUE 7,203,774 7,203,774
    ENERGY INCOME PARTNERS INFRASTRUCTURE FUND 6,302,104 6,302,104
    GMO RESOURCES FUND 8,060,897 8,060,897
    SPDR GOLD SHARES ETF 3,009,538 3,009,538

    TY 2021 InvestmentsOtherSchedule2
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    PORTFOLIO ADVISORS FMV 1,504,767 1,504,767
    WIND POINT VIII FMV 5,428,877 5,428,877
    FRONTENAC FMV 15,503 15,503
    PIMCO FMV 33,199,472 33,199,472
    BRANDYWINE GLOBAL OPPORTUNISTIC FIXED INCOME FMV 5,122,716 5,122,716
    COLCHESTER GLOBAL BOND FUND FMV 3,500,252 3,500,252
    CANTILLON GLOBAL EQUITY LP FMV 31,264,451 31,264,451
    ECHO STREET GOODCO SELECT II LP FMV 18,562,669 18,562,669
    GREEN COURT GREATER CHINA LONG-ONLY EQUITY FUND LTD FMV 6,833,440 6,833,440
    REDWHEEL EMERGING MARKETS EQUITY FUND LTD FMV 8,675,975 8,675,975
    SHERIDAN SQUARE OFFSHORE FUND LTD FMV 21,288,355 21,288,355
    TENSILE CAPITAL PARTNERS LP FMV 15,077,122 15,077,122
    THE WINDACRE DOMESTIC PARTNERSHIP LP FMV 19,999,210 19,999,210
    ARROWMARK INCOME OPPORTUNITY FUND QP LP FMV 6,755,134 6,755,134
    AGILITY COMPREHENSIVE SOLUTIONS FUND LP FMV 25,967,811 25,967,811
    EMINI S&P 500 FUTURES FMV 64,133 64,133
    STATE STREET FMV 12,360 12,360
    ENERGY MEZZANINE FMV 751,193 751,193
    BREP ASIA FMV 2,221,768 2,221,768
    BREP EUROPE FMV 1,133,713 1,133,713
    BREP VIII FMV 8,109,571 8,109,571
    MS PRIME FMV 14,036,743 14,036,743
    MIDOCEAN PARTNERS FMV 8,578,033 8,578,033
    JPMORGAN GLOBAL PRIVATE EQUITY IX FMV 4,714,845 4,714,845

    TY 2021 LandEtcSchedule2
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
    BUILDING & IMPROVEMENTS 10,068,758 4,108,592 5,960,166 5,960,166
    FURNITURE & EQUIPMENT 2,053,025 1,238,958 814,067 814,067
    COMPUTER EQUIPMENT & SOFTWARE 495,393 466,801 28,592 28,592


    TY 2021 LegalFeesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    QUARLES & BRADY 21,551 0 0 22,294
    PATTERSON BELKNAP WEBB & TYLER LLP 39,739 0 0 23,974
    CMS FRANCIS LEFEBVRE AVOCATS 0 0 0 3,383
    FUNKHOUSER VERGOSEN LIEBMAN 625 0 0 625


    TY 2021 OtherAssetsSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
    ART COLLECTION 184,335,129 184,335,129 184,335,129
    EXCISE TAX REFUND RECEIVABLE 82,431 105,023 105,023


    TY 2021 OtherDecreasesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Description Amount
    FOREIGN CURRENCY ADJUSTMENT 98,866
    UNREALIZED GAIN/LOSS 144,964,697


    TY 2021 OtherExpensesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    EXHIBITS, PUBLICATIONS AND PROGRAMS 310,765 0 0 311,942
    REPAIRS AND MAINTENANCE 313,880 0 0 314,507
    ADVERTISING AND PUBLICITY 5,000 0 0 5,000
    OTHER EXP FROM PASSTHROUGH K-1S 0 693,438 0 0
    INSURANCE 249,893 0 0 204,020
    MISC 244,148 0 0 241,704


    TY 2021 OtherIncomeSchedule2
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    ORD INCOME - PASSTHROUGH K-1S   7,625  
    RENTAL INCOME - PASSTHROUGH K-1S   -15,708  
    OTHER INCOME - PASSTHROUGH K-1S   370,935  
    GRANT REFUNDS 379,264 0  
    ROYALTIES 1,370   1,370


    TY 2021 OtherLiabilitiesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Description Beginning of Year - Book Value End of Year - Book Value
    DUE TO BROKERS 527,472 90,330
    DEFERRED EXCISE TAXES 1,453,933 0


    TY 2021 OtherProfessionalFeesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ARABELLA ADVISORS 131,800 0 0 131,800
    THE NEBO COMPANY 48,500 0 0 48,500
    QUATRRO BUSINESS SUPPORT SERVICES 21,665 0 0 25,315
    ARC LEASING GROUP 9,220 0 0 9,220
    ARTEQUITY 9,250 0 0 9,250
    GALLERY SYSTEMS 20,069 0 0 16,269
    SULLIVAN COTTER INC 22,424 0 0 6,063
    C&G PARTNERS 30,000 0 0 30,000
    TERRI A JOHNSON 27,450 0 0 19,000
    NEOTERIC DESIGN INC 8,600 0 0 8,600
    SPELLERBERG ASSOCIATES 18,744 0 0 10,795
    RESEAU GCL 9,438 0 0 7,312
    BE & BECOME 7,817 0 0 7,817
    INVESTMENT FEES 2,027,562 2,027,561 0 0
    PAYSAGES ADELINE 36,975 0 0 32,258
    EXPERTISES GALTIER 17,391 0 0 17,391
    OTHER PROFESSIONAL FEES 135,561 0 0 126,561


    TY 2021 TaxesSchedule
    Name:
    TERRA FOUNDATION FOR AMERICAN ART
    EIN:
    36-2999442
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    4940 EXCISE TAX 527,530 0 0 0