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 BILL AND JOAN ALFOND FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO DEXTER ENTRPS TWO MONUMENT SQ
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PORTLAND, ME04101
A Employer identification number

01-0421806
B Telephone number (see instructions)

(207) 828-7999
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$72,644,095J 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 right arrow.............
3 Interest on savings and temporary cash investments 297,066 290,670  
4 Dividends and interest from securities... 395,620 395,276  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,482,936
b Gross sales price for all assets on line 6a 3,592,466
7 Capital gain net income (from Part IV, line 2)... 2,402,392
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
290,450 165,290  
12 Total. Add lines 1 through 11........ 3,466,072 3,253,628  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
12,775 3,194   9,581
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
192,179 46,843   145,336
17 Interest............... 108,678 0   0
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
153,703 36,403   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
766,615 540,579   3,985
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,233,950 627,019   158,902
25 Contributions, gifts, grants paid....... 1,641,810 1,641,810
26 Total expenses and disbursements. Add lines 24 and 25 2,875,760 627,019   1,800,712
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 590,312
b Net investment income (if negative, enter -0-) 2,626,609
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2022)
Form 990-PF (2022)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 1,564,030 235,483 235,483
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 333,821 Click to see attachment
List of Attached Documents:
// Content
333,821 		34,162,574
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).......... 31,614,809 Click to see attachment
List of Attached Documents:
// Content
33,872,346 		38,246,038
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 33,512,660 34,441,650 72,644,095
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
4,969,460 		Click to see attachment
List of Attached Documents:
// Content
5,308,138
23 Total liabilities (add lines 17 through 22)......... 4,969,460 5,308,138
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 28,543,200 29,133,512
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 0 0
29 Total net assets or fund balances (see instructions)..... 28,543,200 29,133,512
30 Total liabilities and net assets/fund balances (see instructions). 33,512,660 34,441,650
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
28,543,200
2
Enter amount from Part I, line 27a .....................
2
590,312
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
29,133,512
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
29,133,512
Form 990-PF (2022)
Form 990-PF (2022)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a FAIRHOLME PARTNERSHIP P 2013-07-01 2022-07-01
b ADJUSTMENT FOR GAINS INCLUDED IN UBTI P 2022-07-01 2022-12-31
c LEGACY VENTURE V (QP), LLC P 2008-07-01 2022-07-01
d LEGACY VENTURE VI (QP), LLC P 2011-07-01 2022-07-01
e DEXTER INTERNATIONAL EQUITY TE LLC P 2012-07-01 2022-07-01
DEXTER GLOBAL EQUITY TE LLC P 2012-07-01 2022-07-01
DEXTER FIXED INCOME TE LLC P 2014-07-01 2022-07-01
DEXTER U.S. EQUITY TE LLC P 2012-07-01 2022-07-01
DEXTER HEDGE FUND TE LLC P 2013-07-01 2022-07-01
DEXTER REAL ASSETS TE LLC P 2012-07-01 2022-07-01
DEXTER PRIVATE EQUITY TE LLC P 2013-07-01 2022-07-01
(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     57,259 -57,259
b     80,544 -80,544
c 97,587     97,587
d 168,622     168,622
e 46,859     46,859
2,367,569     2,367,569
    34,202 -34,202
    995,346 -995,346
529,770     529,770
382,059     382,059
    22,723 -22,723
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -57,259
b       -80,544
c       97,587
d       168,622
e       46,859
      2,367,569
      -34,202
      -995,346
      529,770
      382,059
      -22,723
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 2,402,392
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 36,510
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 36,510
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 36,510
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 53,761
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 12,500
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 66,261
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. Click to see attachment
List of Attached Documents:
// Content
8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 29,751
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow29,751 Refundedright arrow 11 0
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowME
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2022 or the taxable year beginning in 2022? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
Form 990-PF (2022)
Form 990-PF (2022)
Page 5
Part VI-A
Statements Regarding Activities (continued)
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructionsClick to see attachment
List of Attached Documents:
// Content
.................
12
Yes
 
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowDEXTER ENTERPRISES LLC Telephone no.right arrow (207) 828-7999

Located atright arrowTWO MONUMENT SQUAREPORTLANDME ZIP+4right arrow04101
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2022? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2022, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2022?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2022 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2022.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2022? ..
4b
 
No
Form 990-PF (2022)
Form 990-PF (2022)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
JOAN ALFOND VICE PRES, TREAS, DIRECTOR
7.50 		0 0 0
14 OTIS PLACE
BOSTON,MA02108
GREGORY POWELL SEE GENERAL EXPLANTN SECRETARY
1.50 		0 0 0
TWO MONUMENT SQUARE
PORTLAND,ME04101
WILLIAM ALFOND PRESIDENT, DIRECTOR
12.50 		0 0 0
14 OTIS PLACE
BOSTON,MA02108
KENDEN ALFOND DIRECTOR
1.00 		0 0 0
TWO MONUMENT SQUARE
PORTLAND,ME04101
JUSTIN ALFOND DIRECTOR
1.00 		0 0 0
TWO MONUMENT SQUARE
PORTLAND,ME04101
REIS ALFOND DIRECTOR
1.00 		0 0 0
925 PARK AVENUE APT 9/10B
NEW YORK,NY10028
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2022)
Form 990-PF (2022)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
DEXTER ENTERPRISES LLC INVESTMENT & GRANT ADMINISTRATION 187,380
TWO MONUMENT SQUARE
PORTLAND,ME04101
DEXTER HEDGE FUNDS TE LLC INVEST PORTFOLIO DEDUCTIONS 98,986
TWO MONUMENT SQUARE
PORTLAND,ME04101
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 NONE 0
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1 NONE 0
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2022)
Form 990-PF (2022)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
73,189,331
b
Average of monthly cash balances.......................
1b
332,309
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
73,521,640
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
73,521,640
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
1,102,825
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
72,418,815
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
3,620,941
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
3,620,941
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
36,510
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
36,510
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
3,584,431
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
3,584,431
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
3,584,431
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
1,800,712
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,800,712
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 3,584,431
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 302,300
b Total for prior years:20, 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2017......  
b From 2018......  
c From 2019......  
d From 2020......  
e From 2021......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2022 from Part
XI, line 4: right arrow$ 1,800,712
a Applied to 2021, but not more than line 2a 302,300
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2022 distributable amount..... 1,498,412
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2022. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2021. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2022. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2023 .......... 		2,086,019
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2017 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2023.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2018....  
b Excess from 2019....  
c Excess from 2020....  
d Excess from 2021....  
e Excess from 2022....  
Form 990-PF (2022)
Form 990-PF (2022)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2022, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2022 (b) 2021 (c) 2020 (d) 2019
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
WILLIAM ALFOND
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 e-mail address of the person to whom applications should be addressed:
THE BILL JOAN ALFOND FOUNDATION CO
TWO MONUMENT SQUARE
PORTLAND,ME04101
(207) 828-7999
bThe form in which applications should be submitted and information and materials they should include:
APPLICANTS SHOULD SUBMIT THEIR REQUESTS AS FOLLOWS: (1) A BRIEF (1-3 PAGE) LETTER DESCRIBING THE PROJECT, DRIVE OR CAMPAIGN. THIS SHOULD INCLUDE A STATEMENT OF NEED, NUMBER OF PEOPLE BENEFITED, GEOGRAPHIC AREA SERVED, TOTAL FUND RAISING GOAL, STRATEGY AND AMOUNT REQUESTED FROM THE FOUNDATION, (2) CAPITAL CAMPAIGNS AND SPECIAL PROJECTS SHOULD ALSO INCLUDE A BUDGET, (3) ORGANIZATIONS SHOULD ENCLOSE A COPY OF THEIR 501(C)(3) DETERMINATION LETTER, (4) OTHER SUPPORTING MATERIAL.
cAny submission deadlines:
NO SUBMISSION DEADLINES.
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
THE FOUNDATION CONTRIBUTES TO ORGANIZATIONS IN THE FIELD OF HIGHER EDUCATION. THE FOUNDATION ALSO CONTRIBUTES TO WORTHY CHARITIES WITHIN ITS PRINCIPAL AREA OF GEOGRAPHIC INTEREST. WHEN CONSIDERING MAJOR GRANTS, THE FOUNDATION NORMALLY REQUIRES THAT THE GRANTEE RAISE MATCHING FUNDS FROM OTHER ORGANIZATIONS AND INDIVIDUALS.
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

BETH ISRAEL CONGREGATION

291 MAIN STREET
WATERVILLE,ME04903 		  PC LOCAL SUPPORT FOR DIRECTOR OF EDUCATION AT BETH ISRAEL 17,500

BNY MELLON CHARITABLE GIFT FUND

201 WASHINGTON STREET SUITE
024-0062
BOSTON,MA02108 		  PC DONOR ADVISED FUNDS WITH DISQUALIFIED PERSON ADVISORY PRIVILEGES 120,000

BOYS AND GIRLS CLUB OF KENNEBEC VALLEY

14 PRAY STREET
GARDINER,ME04345 		  PC EDUCARE "BEYOND THE WALLS" PARTNERSHIP 150,000

BOZEMAN DEACONESS HEALTH SERVICES

931 HIGHLAND BOULEVARD SUITE 3200
BOZEMAN,MT59715 		  PC PEDIATRIC SERVICES 30,000

CAPITAL AREA NEW MAINERS PROJECT

70 STATE STREET
AUGUSTA,ME04330 		  PC UNRESTRICTED 2,500

CENTRAL MAINE COMMUNITY BETTERMENT COLLABORATIVE

50 ELM STREET
WATERVILLE,ME04901 		  PC DIRIGO LABS BUSINESS ACCELERATOR 52,696

COASTAL ENTERPRISES INC

30 FEDERAL ST SUITE 100
BRUNSWICK,ME04011 		  PC CHILD CARE BUSINESS LAB EXPANSION IN THE RIM COUNTIES 75,000

EDUCARE CENTRAL MAINE

56 DRUMMOND AVE
WATERVILLE,ME04901 		  PC INVITATION TO PLAY: EXHIBIT PROTOTYPING SESSIONS 16,200

ELLIOTSVILLE FOUNDATION INC

PO BOX 148
PORTLAND,ME04112 		  POF WATERING THE GARDEN 25,000

FOUNDATION OF THE MASSACHUSETTS EYE AND EAR INFIRMARY INC

243 CHARLES STREET
BOSTON,MA02114 		  PC UNRESTRICTED 50,000

GOOD WILL HOME ASSOCIATION

16 PRESCOTT DRIVE
HINCKLEY,ME04944 		  PC COTTAGE IMPROVEMENTS 12,000

GOVERNOR'S ACADEMY

1 ELM STREET
BYFIELD,MA01922 		  PC PARKER RIVER SCIENCE CENTER 2,248

GOVERNOR'S ACADEMY

1 ELM STREET
BYFIELD,MA01922 		  PC 2022 ANNUAL SENIOR TRIP 5,280

GREATER EASTPORT ECUMENICAL CHURCHES ASSOCIATION

PO BOX 147
EASTPORT,ME04631 		  PC LABOR OF LOVE FOOD PANTRY EXPANSION 9,100

HEART OF MAINE RESOURCE CENTER

6 MAIN STREET
DEXTER,ME04930 		  PC UNRESTRICTED 10,000

MAINE COMMUNITY FOUNDATION INC

50 MONUMENT SQUARE 6TH FLOOR
PORTLAND,ME04101 		  PC DONOR ADVISED FUNDS WITH DISQUALIFIED PERSON ADVISORY PRIVILEGES 95,000

MAINE SCHOOL ADMINISTRATIVE DISTRICT #41

48 PENQUIS DRIVE
MILO,ME04463 		  GOV PENQUIS VALLEY COMMUNITY PLAYGROUND 2,923

MAINE SCHOOL ADMINISTRATIVE DISTRICT #46

10 SPRING STREET
DEXTER,ME04930 		  GOV DEXTER CAREER AND TECHNICAL EDUCATION SUMMER CAMP 9,400

NOBLE AND GREENOUGH SCHOOL

10 CAMPUS DRIVE
DEDHAM,MA02026 		  PC BEN SNYDER ACHIEVE ACCELERATOR FUND 30,000

PARTNERS HEALTHCARE SYSTEM INC

116 HUNTINGTON AVENUE 3RD FLOOR
BOSTON,MA02116 		  PC 2022 FELLOWSHIP PROGRAM AT THE JOHN R. GRAHAM HEADACHE CENTER 400,000

PISCATAQUIS COUNTY ECONOMIC DEVELOPMENT COUNCIL

50 MAYO STREET
DOVERFOXCROFT,ME04426 		  PC MAINE HIGHLANDS INVESTMENT PARTNERSHIP 40,000

PRESIDENT AND TRUSTEES OF COLBY COLLEGE

4000 MAYFLOWER HILL
WATERVILLE,ME04901 		  PC BILL AND JOAN ALFOND MAIN STREET COMMONS (DARE NORTHWARD CAMPAIGN) 201,308

PRESIDENT AND TRUSTEES OF COLBY COLLEGE

4000 MAYFLOWER HILL
WATERVILLE,ME04901 		  PC UNDESIGNATED LIFETIME COMMITMENT (DARE NORTHWARD CAMPAIGN) 132,655

RAYES MUSTARD MILL MUSEUM

PO BOX 207
EASTPORT,ME04631 		  PC MUSTARD MILL MUSEUM 50,000

RED SOX FOUNDATION

4 JERSEY STREET
BOSTON,MA02215 		  PC 20TH ANNIVERSARY CAMPAIGN 10,000

THOMAS COLLEGE

180 W RIVER RD
WATERVILLE,ME04901 		  PC BILL AND JOAN ALFOND SCHOLARS GRADUATE PROGRAM 30,000

UNITED STATES BIATHLON ASSOCIATION INC

49 PINELAND DRIVE SUITE 301A
NEW GLOUCESTER,ME04260 		  PC MAX COBB FUND 10,000

UNIVERSITY OF MAINE FOUNDATION

TWO ALUMNI PLACE
ORONO,ME04469 		  PC ELLEN LORING MUSEUM FUND 20,000

UNIVERSITY OF MAINE SYSTEM

15 ESTABROOKE DRIVE
ORONO,ME04469 		  PC NEW VENTURES MAINE: TOTALLY TRADES CONFERENCES FOR GIRLS 8,000

THE WINDOWDRESSERS INC

PO BOX 1135
ROCKLAND,ME04841 		  PC WINDOW WARMING 25,000
Total .................................right arrow 3a 1,641,810
bApproved for future payment

CENTRAL MAINE COMMUNITY BETTERMENT COLLABORATIVE
50 ELM STREET
WATERVILLE,ME04901 		  PC DIRIGO LABS BUSINESS ACCELERATOR 57,600

KENNEBEC VALLEY COMMUNITY ACTION PROGRAM
101 WATER STREET
WATERVILLE,ME04901 		  PC SKOWHEGAN PUBLIC SCHOOL EARLY CHILDHOOD EDUCATION WING 500,000

UNIVERSITY OF MAINE SYSTEM
15 ESTABROOKE DRIVE
ORONO,ME04469 		  PC NEW VENTURES MAINE: TOTALLY TRADES CONFERENCES FOR GIRLS 16,000
Total ................................. right arrow 3b 573,600
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 ........... 		    14 297,066  
4 Dividends and interest from securities ....     14 395,620  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     14 290,450  
8 Gain or (loss) from sales of assets other than
inventory ............ 		900099 80,544 18 2,402,392  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 80,544 3,385,528 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
3,466,072
(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.)
1 NOT APPLICABLE
Form 990-PF (2022)
Form 990-PF (2022)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2022)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2022 AccountingFeesSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX PREPARATION 12,775 3,194   9,581

TY 2022 GeneralExplanationAttachment
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Identifier Return Reference Explanation
OFFICER COMPENSATION 990-PF, PART VIII GREGORY POWELL IS AN EMPLOYEE OF DEXTER ENTERPRISES, LLC. DEXTER ENTERPRISES, LLC IS COMPENSATED UNDER A MANAGEMENT CONTRACT WITH THE FOUNDATION. SEE STATEMENT 6 FOR DEXTER ENTERPRISES, LLC INFORMATION.

TY 2022 InvestmentsCorpStockSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Name of Stock End of Year Book Value End of Year Fair Market Value
BERKSHIRE HATHAWAY COMMON STOCK CLASS A 73,351 29,528,790
BERKSHIRE HATHAWAY COMMON STOCK CLASS B 38,478 4,181,579
ST JOE COMPANY COMMON STOCK 221,992 452,205

TY 2022 InvestmentsOtherSchedule2
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
LEGACY VENTURE FUNDS V & VI AT COST 1,192,714 2,854,926
REALTY ASSOCIATES FUND VIII CORPORATION AT COST 232,367 0
DEXTER GLOBAL EQUITY TE, LLC AT COST 8,272,452 8,402,702
DEXTER INTERNATIONAL EQUITY TE, LLC AT COST 3,410,260 3,149,439
DEXTER REAL ASSETS TE, LLC (PORTFOLIO 2) AT COST 1,444,712 2,506,555
DEXTER US EQUITY TE, LLC AT COST 2,282,510 2,913,082
DEXTER HEDGE FUND TE, LLC AT COST 14,583,582 14,801,856
DEXTER PRIVATE EQUITY TE, LLC (PORTFOLIO 2) AT COST 855,746 1,740,896
DEXTER FIXED INCOME TE LLC AT COST 1,048,949 946,777
DEXTER REAL ASSETS TE, LLC (PORTFOLIO 3) AT COST 482,068 756,928
DEXTER PRIVATE EQUITY TE, LLC (PORTFOLIO 7A) AT COST 40,766 44,147
SPECIAL OPPORTUNITIES FUNDS AT COST 26,220 128,730

TY 2022 OtherExpensesSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FILING FEES 185 0   185
MEMBERSHIP FEES 631 0   631
OTHER DEDUCTIONS FROM FLOW-THRU ENTITIES 483,237 266,119   0
CHARITABLE DEDUCTIONS FROM FLOW-THRU ENTITIES 1,172 0   1,172
NONDEDUCTIBLE EXPENSES FROM FLOW-THRU ENTITIES 4,694 0   0
INVESTMENT INTEREST FROM FLOW-THRU ENTITIES 21,584 21,345   0
BOARD EXPENSES 1,997 0   1,997
OTHER LOSSES FROM FLOW-THRU ENTITIES 253,115 253,115   0


TY 2022 OtherIncomeSchedule2
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER INCOME FROM PASS-THRUS 290,450 165,290 290,450


TY 2022 OtherLiabilitiesSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Description Beginning of Year - Book Value End of Year - Book Value
LINE OF CREDIT 4,969,460 5,308,138


TY 2022 OtherProfessionalFeesSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DEXTER ENTERPRISES - INVESTMENT ADMINISTRATION 46,843 46,843   0
DEXTER ENTERPRISES - GRANT ADMINISTRATION 140,537 0   140,537
CONSULTING 4,799 0   4,799


TY 2022 TaxesSchedule
Name:
THE BILL AND JOAN ALFOND FOUNDATION
EIN:
01-0421806
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAXES 117,300 0   0
FOREIGN TAXES 27,052 27,052   0
OTHER INVESTMENT TAXES 9,351 9,351   0