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 NORMAN & SADIE LEE FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)1925 CENTURY PARK EAST 16TH FL
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
LOS ANGELES, CA90067
A Employer identification number

95-3333368
B Telephone number (see instructions)

(310) 273-2501
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$35,375,702J 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) 0
2 Check right arrow.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 1,017,145 1,014,679  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -379,795
b Gross sales price for all assets on line 6a 15,800,131
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
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
1,850 1,850  
12 Total. Add lines 1 through 11........ 639,200 1,016,529  
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
72,925 36,463   36,462
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
183,483 183,483   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
70,568 9,999   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy.............. 28,568 14,284   14,284
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
60,281 58,025   209
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 415,825 302,254   50,955
25 Contributions, gifts, grants paid....... 1,885,000 1,885,000
26 Total expenses and disbursements. Add lines 24 and 25 2,300,825 302,254   1,935,955
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,661,625
b Net investment income (if negative, enter -0-) 714,275
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......... 1,508,058 337,873 337,873
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) 1,358,850 Click to see attachment
List of Attached Documents:
// Content
1,314,920 		1,185,418
b Investments—corporate stock (attach schedule)....... 22,483,667 Click to see attachment
List of Attached Documents:
// Content
18,063,206 		17,352,158
c Investments—corporate bonds (attach schedule)....... 6,349,677 Click to see attachment
List of Attached Documents:
// Content
7,655,082 		6,966,135
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).......... 5,062,145 Click to see attachment
List of Attached Documents:
// Content
7,544,506 		9,534,118
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
18,104 		Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
0
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 36,780,501 34,915,587 35,375,702
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
7,474 		Click to see attachment
List of Attached Documents:
// Content
0
23 Total liabilities (add lines 17 through 22)......... 7,474 0
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 36,773,027 34,915,587
29 Total net assets or fund balances (see instructions)..... 36,773,027 34,915,587
30 Total liabilities and net assets/fund balances (see instructions). 36,780,501 34,915,587
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
36,773,027
2
Enter amount from Part I, line 27a .....................
2
-1,661,625
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
15,427
4
Add lines 1, 2, and 3 ..........................
4
35,126,829
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
211,242
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
34,915,587
Form 990-PF (2022)
Form 990-PF (2022)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b CARLYLE STRUCTURED CREDIT FUND, LP P   2022-12-31
c OAKTREE REAL ESTATE OPPORTUNITIES FUND VI, LP P   2022-12-31
d BOYD WATTERSON GSA FUND, LP P   2022-12-31
e OAK STREET REAL ESTATE CAPITAL NET LEASE PROPERTY FUND LP P   2022-12-31
OAKTREE REAL ESTATE OPP. FUND VI AIF (CAYMAN), LP P   2022-12-31
LDR PREFERRED INCOME FUND, LLC P   2022-12-31
OAKTREE REAL ESTATE OPP. FUND VI AIF (CAYMAN), LP P   2022-12-31
CAPITAL GAINS DIVIDENDS P    
(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 15,700,993   15,957,008 -256,015
b       7,370
c       -25,934
d       1,101
e       2,234
      -24,904
96,813   96,813 0
455   455 0
1,870     1,870
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       -256,015
b       7,370
c       -25,934
d       1,101
e       2,234
      -24,904
      0
      0
      1,870
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 -294,278
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 9,928
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 9,928
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 9,928
6 Credits/Payments:
a 2022 estimated tax payments and 2021 overpayment credited to 2022 6a 36,000
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 0
d Backup withholding erroneously withheld ........... 6d 213
7 Total credits and payments. Add lines 6a through 6d.............. 7 36,213
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2221 is attached. 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 26,285
11 Enter the amount of line 10 to be: Credited to 2023 estimated taxright arrow26,285 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
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2022 or the taxable year beginning in 2022? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
Form 990-PF (2022)
Form 990-PF (2022)
Page 5
Part VI-A
Statements Regarding Activities (continued)
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See 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 arrowCLIFTONLARSONALLEN LLP Telephone no.right arrow (310) 273-2501

Located atright arrow1925 CENTURY PARK EAST 16TH FLLOS ANGELESCA ZIP+4right arrow90067
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2022, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(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
 
 
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
PAUL JAMES DIRECTOR AND PRESIDENT
4.00 		0 0 0
1925 CENTURY PARK EAST 16TH FL
LOS ANGELES,CA90067
BRYAN ISAACS DIRECTOR, SECRETARY AND TREASURER
4.00 		0 0 0
1925 CENTURY PARK EAST 16TH FL
LOS ANGELES,CA90067
MARK JAMES VICE PRESIDENT
2.00 		0 0 0
1925 CENTURY PARK EAST 16TH FL
LOS ANGELES,CA90067
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
MORGAN STANLEY INVESTMENT MANAGEMENT 162,842
1 NEW YORK PLAZA 12TH FLOOR
NEW YORK,NY10004
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  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right 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
35,681,490
b
Average of monthly cash balances.......................
1b
2,163,347
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
37,844,837
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
37,844,837
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
567,673
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
37,277,164
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,863,858
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
1,863,858
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
9,928
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
9,928
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,853,930
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,853,930
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
1,853,930
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
1,935,955
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
1,935,955
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 1,853,930
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2021 only....... 1,883,031
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$ 1,935,955
a Applied to 2021, but not more than line 2a 1,883,031
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..... 52,924
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 .......... 		1,801,006
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).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2022)
Form 990-PF (2022)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year

AL OTRO LADO

PO BOX 32578
LOS ANGELES,CA90032 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

AMERICAN RIVER CONSERVANCY

348 CA-49
COLOMA,CA95613 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,000

BURN INSTITUTE

8825 AERO DR 200
SAN DIEGO,CA92123 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

CENTER THEATRE GROUP

601 W TEMPLE ST
LOS ANGELES,CA90012 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 100,000

CHP 11-99 FOUNDATION

3188 AIRWAY AVE STE C
COSTA MESA,CA92626 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

DISABLED SPORTS EASTERN SIERRA

1 MINARET RD
MAMMOTH LAKES,CA93546 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 8,500

ENTERPRISE FOR YOUTH

200 PINE STREET NO 600
SAN FRANCISCO,CA94104 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 7,500

EXHALE TO INHALE

1732 1ST AVENUE 21133
NEW YORK,NY10128 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 4,000

GIRLS INC OF GREATER LOS ANGELES

9800 S LA CIENEGA BLVD 410
INGLEWOOD,CA90301 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 2,500

GOLD TRAIL GRANGE

319 CA-49
COLOMA,CA95613 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

LAURA'S HOUSE

999 CORPORATE DR 225
LADERA RANCH,CA92694 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

LIFEMOVES

181 CONSTITUTION DRIVE
MENLO PARK,CA94025 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 7,500

LOS ANGELES MUSEUM OF THE HOLOCAUST

100 THE GROVE DR
LOS ANGELES,CA90036 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

LOS ANGELES OPERA

135 N GRAND AVE
LOS ANGELES,CA90012 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 160,000

LOS ANGELES PHILHARMONIC

111 S GRAND AVE
LOS ANGELES,CA90012 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 457,500

LUCKY DOG ANIMAL RESCUE

5159 LANGSTON BLVD
ARLINGTON,VA22207 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 10,000

MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST

1999 AVE OF THE STARS SUITE 2400
LOS ANGELES,CA90067 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 820,000

PREVENT DROWNING FOUNDATION OF SAN DIEGO

PO BOX 90622
SAN DIEGO,CA92169 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

PROJECT HEAL

38-18 WEST DR
DOUGLASTON,NY11363 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 3,500

REEL RECOVERY

160 BROOKSIDE RD
NEEDHAM,MA02492 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 3,000

SKIRBALL CULTURAL CENTER

2701 N SEPULVEDA BLVD
LOS ANGELES,CA90049 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 55,000

THE PHOENIX

2239 CHAMPA STREET
DENVER,CO80205 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 5,000

THE UCLA FOUNDATION

10920 WILSHIRE BLVD 900
LOS ANGELES,CA90024 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 20,000

TROUT UNLIMITED

1777 N KENT ST STE 100
ARLINGTON,VA22209 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 1,000

USC ASSOCIATES

1150 S OLIVE ST SUITE 2000
LOS ANGELES,CA90015 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 128,000

VENICE FAMILY CLINIC

604 ROSE AVE
VENICE,CA90291 		N/A PC PUBLIC SUPPORT OF ORGANIZATION MISSION 60,000
Total .................................right arrow 3a 1,885,000
bApproved for future payment
Total ................................. right arrow 3b 0
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 ........... 		         
4 Dividends and interest from securities ....     14 1,017,145  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     01 1,850  
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -379,795  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 639,200 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
639,200
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2022)
Form 990-PF (2022)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

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


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


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2022 AccountingFeesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING 72,925 36,463   36,462

TY 2022 InvestmentsCorpBondsSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Name of Bond End of Year Book Value End of Year Fair Market Value
AMERICAN HONDA FINANCE CORP 99,548 99,958
NEXTERA ENERGY CAPITAL HOLDINGS INC 98,507 99,342
WELLS FARGO & CO 159,720 148,021
JOHN DEERE CAPITAL CORP 132,853 121,823
JPMORGAN CHASE & CO 126,084 125,158
CVS HEALTH CORP 152,099 144,095
TORONTO-DOMINION BANK/THE 94,131 93,124
AMAZON.COM INC 286,550 254,678
UNION PACIFIC CORP 81,182 80,502
KELLOGG CO 303,675 286,055
ASTRAZENECA PLC 88,181 88,099
UNITEDHEALTH GROUP INC 76,429 76,067
HOME DEPOT INC/THE 97,871 93,479
ALABAMA POWER CO 94,857 91,349
GLOBAL PAYMENTS INC 17,587 17,885
TRINITY ACQUISITION PLC 28,346 27,850
FORTUNE BRANDS INNOVATIONS INC 30,409 28,796
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 6,463 5,910
MOTOROLA SOLUTIONS INC 3,993 3,932
ALLEGION US HOLDING CO INC 33,370 32,706
CARRIER GLOBAL CORP 35,280 34,927
QVC INC 37,880 33,744
ZIMMER BIOMET HOLDINGS INC 24,628 24,143
DOLLAR TREE INC 28,108 26,377
AMERICAN TOWER CORP 6,117 5,853
DISCOVERY COMMUNICATIONS LLC 17,343 15,286
STEEL DYNAMICS INC 12,267 12,198
VERISK ANALYTICS INC 41,352 39,925
AMC NETWORKS INC 9,078 6,921
MICROCHIP TECHNOLOGY INC 57,191 55,357
CONAGRA BRANDS INC 22,819 19,716
BERRY GLOBAL INC 55,290 55,451
ZIMMER BIOMET HOLDINGS INC 19,075 16,986
ALTRIA GROUP INC 9,263 7,848
WESTERN DIGITAL CORP 57,099 54,700
GLOBAL PAYMENTS INC 23,110 22,447
MOLSON COORS BEVERAGE CO 45,701 40,936
HCA INC 10,271 8,918
AMERICAN TOWER CORP 32,454 31,822
STEEL DYNAMICS INC 31,599 29,996
BROADCOM CORP / BROADCOM CAYMAN FINANCE LTD 34,601 33,142
AT&T INC 35,616 29,581
CARRIER GLOBAL CORP 23,557 19,875
QVC INC 28,385 24,735
SBA COMMUNICATIONS CORP 34,178 30,268
CA INC 18,977 17,974
VERIZON COMMUNICATIONS INC 61,101 55,535
KRAFT HEINZ FOODS CO 58,408 54,496
UNITED RENTALS NORTH AMERICA INC 16,000 14,920
WILLIS NORTH AMERICA INC 13,607 13,569
HP INC 31,293 26,518
EXPEDIA GROUP INC 14,509 14,427
ALLEGION US HOLDING CO INC 22,548 22,770
STEEL DYNAMICS INC 13,415 13,450
TRANSDIGM INC 61,519 63,268
BOYD GAMING CORP 48,348 46,861
CARLISLE COS INC 48,622 44,887
SERVICE CORP INTERNATIONAL/US 5,400 4,687
UNITED RENTALS NORTH AMERICA INC 45,760 45,610
ENCOMPASS HEALTH CORP 40,444 40,948
AT&T INC 26,342 25,746
EXPEDIA INC 41,090 41,404
MOTOROLA SOLUTIONS INC 13,811 13,616
TEGNA INC 35,105 32,152
DISCOVERY COMMUNICATIONS LLC 30,830 30,231
BAT CAPITAL CORP 60,009 54,926
ORACLE CORP 46,386 41,666
CDW LLC / CDW FINANCE CORP 32,589 28,586
DOLLAR TREE INC 14,495 14,389
TRIMBLE INC 58,348 53,875
HCA INC 50,782 46,770
BROADCOM INC 4,540 3,733
WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP 53,402 50,035
WILLIS NORTH AMERICA INC 13,661 13,229
CONAGRA BRANDS INC 23,150 21,455
SBA COMMUNICATIONS CORP 30,336 30,800
ALTRIA GROUP INC 51,223 48,028
VERISK ANALYTICS INC 14,580 14,051
HP INC 29,032 28,393
MOTOROLA SOLUTIONS INC 37,072 37,168
SERVICE CORP INTERNATIONAL/US 59,788 55,682
BATH & BODY WORKS INC 58,280 61,290
AMERICAN TOWER CORP 20,701 17,298
NEWELL BRANDS INC 56,000 55,757
QORVO INC 47,531 41,594
ENCOMPASS HEALTH CORP 22,250 22,040
CARLISLE COS INC 10,064 10,010
BLOCK FINANCIAL LLC 6,225 6,152
AIR LEASE CORP FXD TO 062026 VAR THRAFTR 4.6500% 70,250 60,003
ALLY FINANCIAL INC FXD TO 052026 VAR THRAFTR 4.7000% 38,582 25,553
BANK OF AMERICA CORP FXD TO 032025 VAR THRAFTR 6.1000% 122,399 106,007
BANK OF AMERICA CORP FXD TO 102024 VAR THRAFTR 6.5000% 206,243 174,653
CHARLES SCHWAB CORP/THE FXD TO 062025 VAR THRAFTR 5.3750% 111,481 105,933
CHARLES SCHWAB CORP/THE FXD TO 062026 VAR THRAFTR 4% 74,278 64,152
CITIGROUP INC FXD TO 012023 VAR THRAFTR 5.9500% 175,781 160,143
CITIGROUP INC FXD TO 052024 VAR THRAFTR 6.3000% 137,698 116,449
CITIZENS FINANCIAL GROUP INC F XD TO 102025 VAR THRAFTR 5.65% 137,215 120,801
DISCOVER FINANCIAL SERVICES FX D TO 092025 VAR THRAFTR 6.125% 125,569 119,308
FIFTH THIRD BANCORP FXD TO 092025 VAR THRAFTR 4.5000% 131,300 121,465
GENERAL ELECTRIC CO FXD TO 012021 VAR THRAFTR 8.099% 109,422 116,630
GENERAL MOTORS FIN CO INC FXD TO 092030 VAR THRAFTR 5.7000% 126,054 95,429
GOLDMAN SACHS GROUP INC/THE FX D TO 112026 VAR THRAFTR 4.125% 135,000 112,830
GOLDMAN SACHS GROUP INC/THE FXD TO 052026 VAR THRAFTR 3.8% 140,000 114,582
HUNTINGTON BANCSHARES INC/OH F XD TO 102027 VAR THRAFTR 4.45% 127,635 114,650
HUNTINGTON BANCSHARES INC/OH FXD TO 072030 VAR THFTR 5.625% 134,234 122,781
JPMORGAN CHASE & CO FXD TO 022024 VAR THRAFTR 6.7500% 37,287 32,849
JPMORGAN CHASE & CO FXD TO 062026 VAR THRAFTR 3.65% 108,000 92,874
JPMORGAN CHASE & CO FXD TO 082023 VAR THRAFTR 6.0000% 166,658 157,590
KEYCORP FXD TO 092026 VAR THRAFTR 5.0000% 76,061 68,041
LINCOLN NATIONAL CORP FXD TO 032028 VAR THRAFTR 9.25% 33,823 34,936
METLIFE INC FXD TO 032028 VAR THRAFTR 5.8750% 62,128 56,427
PNC FIN SERVICES GROUP INC/THE FXD TO 092026 VAR THFTR 3.4% 179,000 141,132
REGIONS FINANCIAL CORP FXD TO 092025 VAR THRAFTR 5.7500% 130,947 123,215
SVB FINANCIAL GROUP FXD TO 022031 VAR THRAFTR 4.1000% 145,860 83,440
SVB FINANCIAL GROUP FXD TO 052026 VAR THRAFTR 4.0000% 56,243 37,323
SVB FINANCIAL GROUP FXD TO 112031 VAR THRAFTR 4.7000% 65,000 41,033
US BANCORP FXD TO 012027 VAR THRAFTR 3.7000% 50,993 41,778
US BANCORP FXD TO 042027 VAR THRAFTR 5.3000% 41,866 35,619
VOYA FINANCIAL INC FXD TO 092023 VAR THRAFTR 6.1250% 125,801 121,249
WELLS FARGO & CO FXD TO 032026 VAR THRAFTR 3.9000% 80,584 67,283

TY 2022 InvestmentsCorpStockSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Name of Stock End of Year Book Value End of Year Fair Market Value
ABM INDUSTRIES INCORPORATED (ABM) 14,730 18,903
ADAPTHEALTH CORP (AHCO) 18,746 13,358
ADDUS HOMECARE CORP COM (ADUS) 23,320 23,281
ALTRA INDL MOTION CORP (AIMC) 5,194 12,309
AMN HEALTHCARE SVCS INC (AMN) 5,104 15,115
ARCOSA INC (ACA) 9,236 13,694
ASBURY AUTOMOTIVE GROUP INC (ABG) 14,025 14,161
AVIENT CORPORATION (AVNT) 19,750 16,846
BELDEN INC (BDC) 20,528 24,446
BRINK'S COMPANY COM (BCO) 12,330 15,361
BRINKER INTL INC (EAT) 15,135 7,946
CADENCE BANK (CADE) 28,073 30,036
CASELLA WASTE SYS INC CL A (CWST) 11,073 22,207
CBIZ INC (CBZ) 13,052 24,690
CENTRAL GARDEN & PET CO CL A (CENTA) 11,827 13,890
CVB FINCL CP (CVBF) 22,667 34,711
ELEMENT SOLUTIONS INC (ESI) 17,048 12,951
ESCO TECHNOLOGIES (ESE) 11,732 21,885
FEDERAL SIGNAL CORP (FSS) 17,916 22,770
FORMFACTOR INC (FORM) 16,139 9,270
FORWARD AIR CORP (FWRD) 19,505 29,264
FRANCHISE GROUP INC (FRG) 17,912 8,956
FULLER H B & COMPANY (FUL) 15,065 21,844
GIBRALTAR INDUSTRIES INC (ROCK) 19,598 22,298
GLACIER BANCORP INC NEW (GBCI) 23,364 31,530
HORACE MANN EDUCATORS CP (HMN) 12,505 14,088
ICF INTL INC (ICFI) 18,380 21,692
ICU MEDICAL INC (ICUI) 9,201 11,496
INDEPENDENT BK MASS (INDB) 18,542 34,532
INSTALLED BLDG PRODS INC (IBP) 20,103 13,610
INTEGER HOLDINGS CORP (ITGR) 23,003 20,675
LA Z BOY INCORPORATED (LZB) 14,774 12,665
LAKELAND FINCL (LKFN) 8,761 15,105
LANCASTER COLONY CRP (LANC) 12,787 21,308
LANTHEUS HLDGS INC COM (LNTH) 11,803 22,168
MAGNOLIA OIL & GAS CORP CL A (MGY) 8,753 23,989
MATADOR RES CO (MTDR) 11,738 36,519
MATERION CORP COM (MTRN) 20,266 18,902
MGE ENERGY INC (MGEE) 5,878 10,771
MILLERKNOLL INC (MLKN) 17,745 8,929
MODIVCARE INC (MODV) 23,887 18,933
ONE GAS INC (OGS) 8,451 15,144
OXFORD INDUSTRIES INC (OXM) 20,790 27,115
PEBBLEBROOK HOTEL TR COM (PEB) 20,793 11,864
PERFICIENT INC (PRFT) 14,875 16,689
PLEXUS CORP (PLXS) 9,026 16,160
PLYMOUTH INDL REIT INC (PLYM) 21,347 16,898
POTLATCHDELTIC CORP (PCH) 27,174 23,975
RAMBUS INC (DEL) (RMBS) 7,801 16,943
SELECTIVE INSURANCE GROUP (SIGI) 9,862 18,963
SKYLINE CORP (SKY) 12,611 15,092
SOUTH ST CORP (SSB) 22,367 26,115
STANDEX INTERNATIONAL CORP (SXI) 18,212 23,349
STIFEL FINANCIAL CORPORATION (SF) 12,482 14,593
SYNEOS HEALTH INC CL A (SYNH) 25,251 9,647
THE SIMPLY GOOD FOODS COMPANY (SMPL) 13,660 22,362
UNITED BANKSHARES INC W VA (UBSI) 24,977 25,630
CITI BUFFERED PARTICIPATION NOTE SPX (SQHGU) 1,500,000 1,464,000
MSILF GOVERNMENT PTF INST (MVRXX) 1,250,000 1,250,000
FEDERATED HERMES GOVT OBL AVR (GOVXX) 173,243 173,243
ADOBE INC (ADBE) 11,179 39,037
ALCON INC (ALC) 24,175 30,436
AMERIPRISE FINCL INC (AMP) 13,444 44,215
AMGEN INC (AMGN) 28,865 44,386
ANSYS INC (ANSS) 13,609 35,997
ATMOS ENERGY CP (ATO) 36,448 37,319
AUTODESK INC DELAWARE (ADSK) 36,070 34,945
BLACKSTONE INC (BX) 50,350 30,418
CAPITAL ONE FINANCIAL CORP (COF) 30,830 33,559
CINCINNATI FINANCIAL OHIO (CINF) 21,788 33,072
COCA COLA CO (KO) 25,804 39,311
COMMERCE BANCSHARES (CBSH) 18,182 25,935
CONSTELLATION BRANDS INC CL A (STZ) 33,018 32,213
CORTEVA INC (CTVA) 26,117 59,427
COTERRA ENERGY INC (CTRA) 29,455 38,943
CROWN CASTLE INC (CCI) 38,960 32,689
CULLEN FROST BANKERS INC (CFR) 21,662 39,040
DANAHER CORPORATION (DHR) 13,810 45,652
ECOLAB INC (ECL) 43,975 28,675
EQUITY LIFESTYLE PROPERTIES (ELS) 18,520 23,191
GENL DYNAMICS CORP (GD) 20,767 34,984
HONEYWELL INTL INC (HON) 42,772 39,646
LENNAR CORP CL B (LEN'B) 746 1,496
LENNAR CORPORATION (LEN) 19,722 39,549
MARTIN MARIETTA MATERIALS (MLM) 22,550 38,191
MEDTRONIC PLC SHS (MDT) 30,004 26,891
MERCK & CO INC NEW COM (MRK) 33,056 39,609
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 27,709 26,207
MICROCHIP TECHNOLOGY INC (MCHP) 15,221 39,621
MICROSOFT CORP (MSFT) 13,747 58,036
MITSUBISHI UFJ FINCL GRP ADS (MUFG) 16,981 22,785
OSHKOSH CORP (OSK) 41,550 32,454
PARKER HANNIFIN CORP (PH) 24,451 43,359
PAYPAL HLDGS INC COM (PYPL) 16,975 15,455
PHILLIPS 66 COM (PSX) 27,388 37,573
PNC FINL SVCS GP (PNC) 27,822 38,221
PROCTER & GAMBLE (PG) 31,137 36,374
QUALCOMM INC (QCOM) 23,410 35,291
R P M INC (RPM) 22,040 35,667
SONY GROUP CORPORATION ADR (SONY) 21,279 34,326
SYSCO CORP (SYY) 34,414 30,809
XCEL ENERGY INC (XEL) 36,812 38,841
XYLEM INC COM (XYL) 28,484 38,147
ALLSTATE CORP (ALL) 56,322 55,493
ALTRIA GROUP INC (MO) 50,456 46,213
BCE INC (BCE) 64,262 56,080
BRISTOL MYERS SQUIBB CO (BMY) 64,044 70,223
BROADCOM INC (AVGO) 21,764 36,343
CHEVRON CORP (CVX) 51,429 76,104
CISCO SYS INC (CSCO) 65,899 53,786
CITIGROUP INC NEW (C) 52,933 43,250
COMCAST CORP (NEW) CLASS A (CMCSA) 49,210 39,061
CONAGRA BRANDS INC (CAG) 68,593 69,350
DOW INC (DOW) 63,016 49,533
DUKE ENERGY CORPORATION (DUK) 76,609 74,792
EOG RESOURCES INC (EOG) 68,596 76,158
EXXON MOBIL CORP (XOM) 54,886 60,749
GENUINE PARTS CO (GPC) 31,755 42,510
HEALTHPEAK PPTYS INC (PEAK) 69,858 58,187
INTEL CORP (INTC) 106,678 59,547
JOHNSON & JOHNSON (JNJ) 57,954 61,121
JOHNSON CTLS INTL PLC (JCI) 26,712 24,448
JPMORGAN CHASE & CO (JPM) 66,029 60,345
MEDTRONIC PLC SHS (MDT) 102,368 79,274
MERCK & CO INC NEW COM (MRK) 64,169 75,877
MORGAN STANLEY (MS) 68,594 57,686
NOVARTIS AG ADR (NVS) 59,598 58,564
PHILIP MORRIS INTL INC (PM) 41,103 39,573
PPL CORPORATION (PPL) 78,477 76,440
RAYTHEON TECHNOLOGIES CORP (RTX) 56,652 61,662
RIO TINTO PLC SPON ADR (RIO) 43,490 39,434
SIEMENS AKTIENGESELLSCHAFT (SIEGY) 58,301 58,941
TRUIST FINL CORP (TFC) 61,661 50,259
UNILEVER PLC (NEW) ADS (UL) 62,316 59,010
VERIZON COMMUNICATIONS (VZ) 101,839 82,582
VICI PROPERTIES INC (VICI) 76,978 80,417
ACCENTURE PLC IRELAND CL A (ACN) 73,958 70,713
AIA GROUP LTD SPON ADR (AAGIY) 57,612 50,402
AKZO NOBEL NV ADR (AKZOY) 54,326 34,764
ALCON INC (ALC) 54,871 51,070
ASHTEAD GROUP PLC ADR (ASHTY) 64,718 61,774
ASSA ABLOY AB UNSP ADR (ASAZY) 52,892 42,264
BROOKFIELD ASSET MANAGMT LTD (BAM) 14,900 11,439
BROOKFIELD CORP CL A (BN) 62,793 50,242
CAMECO CORP (CCJ) 31,818 38,879
COCA-COLA EUROPACIFIC PARTNERS (CCEP) 51,204 51,501
CREDICORP LTD (BAP) 57,715 48,431
DASSAULT SYSTEMS SA ADS (DASTY) 69,000 54,264
DBS GROUP HOLDINGS LTD SP (DBSDY) 50,583 56,955
ERSTE GROUP BANK AG SPONS ADR (EBKDY) 40,823 34,431
EXPERIAN GP LTD ADR (EXPGY) 46,879 42,331
FANUC CORPORATION UNSP ADR (FANUY) 61,826 38,484
GSK PLC ADR (GSK) 51,455 46,736
HALEON PLC ADR (HLN) 47,955 52,160
HEINEKEN NV SPN ADR (HEINY) 53,260 47,739
ING GROEP NV ADR (ING) 64,170 63,588
KDDI CORP UNSPON ADR (KDDIY) 51,874 49,178
KUBOTA CP ADR (KUBTY) 60,665 39,384
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 53,315 55,728
MAGNA INTERNATIONAL INC (MGA) 63,562 46,068
MICHELIN COMPAGNIE GENERALE DE (MGDDY) 61,827 43,484
MUENCHENER RUECK-UNSPONS ADR (MURGY) 44,753 62,552
NIDEC CORP (NJDCY) 74,731 31,954
NOVARTIS AG ADR (NVS) 40,958 42,094
OTSUKA HOLDINGS CO LTD UNS ADR (OTSKY) 47,829 41,454
PAN PAC INTL HLDGS CORP ADR (DQJCY) 54,521 56,033
RENTOKIL INITIAL PLC ADR (RTO) 54,145 46,616
SAFRAN SA (SAFRY) 51,075 48,167
SONY GROUP CORPORATION ADR (SONY) 96,448 65,677
SYMRISE AG UNSPONS ADR (SYIEY) 53,865 50,581
TOTALENERGIES SE SPONSORED ADS (TTE) 42,516 52,768
UNILEVER PLC (NEW) ADS (UL) 44,277 41,086
ACADEMY SPORTS & OUTDOORS INC (ASO) 11,552 15,447
ACUITY BRANDS INC (AYI) 12,861 10,433
ADTALEM GLOBAL EDUCATION INC (ATGE) 3,062 3,160
AMKOR TECHNOLOGY INC (AMKR) 11,975 12,230
AMN HEALTHCARE SVCS INC (AMN) 12,281 12,750
AMPHASTAR PHARMACEUTICALS INC (AMPH) 1,610 2,073
APPLE HOSPITALITY REIT INC (APLE) 12,472 12,656
APPLIED IND TECH INC (AIT) 7,171 8,570
ATKORE INC (ATKR) 14,322 15,652
ATLANTIC UN BANKSHARES CORP (AUB) 1,947 1,933
AUTONATION INC (AN) 8,932 8,262
AVIENT CORPORATION (AVNT) 3,033 2,093
AVNET INC (AVT) 4,955 5,156
BANK OF HAWAII CORP (BOH) 10,789 9,617
BELDEN INC (BDC) 6,167 5,608
BRUKER CORPORATION (BRKR) 27,161 22,624
BUILDERS FIRSTSOURCE INC (BLDR) 5,604 5,255
CADENCE BANK (CADE) 10,531 8,582
CARTER'S (CRI) 5,548 4,626
CHEMED CORPORATION (CHE) 6,525 6,636
CHORD ENERGY CORPORATION NEW (CHRD) 20,410 21,890
CIRRUS LOGIC INC (CRUS) 9,786 9,236
CITY OFFICE REIT INC (CIO) 5,234 2,363
CLEAN HARBORS (CLH) 3,988 4,222
COMFORT SYSTEMS USA INC (FIX) 6,912 7,825
COMMERCIAL METALS CO (CMC) 6,036 8,597
CONCENTRIX CORP (CNXC) 9,318 6,658
CONSENSUS CLOUD SOLUTIONS INC (CCSI) 1,076 914
CRA INTL INC (CRAI) 986 1,224
CRANE HLDGS CO (CR) 7,691 7,232
CSG SYSTEMS INTL INC (CSGS) 9,089 9,896
DECKER OUTDOOR CORPORATION (DECK) 21,747 22,752
DIODES INC (DIOD) 11,462 10,964
DONALDSON CO INC (DCI) 2,158 2,178
DONNELLEY FINL SOLUTIONS INC (DFIN) 3,343 3,749
EMCOR GROUP INC (EME) 15,807 17,921
EVERCORE INC CLASS A (EVR) 12,368 10,581
EVERTEC INC (EVTC) 4,465 3,270
EXELIXIS INC (EXEL) 5,714 5,101
EXLSERVICE HLDGS INC (EXLS) 12,640 15,588
FEDERATED HERMES INC CL B (FHI) 6,789 6,826
FINANCIAL INSTITUTIONS (FISI) 885 658
FIRST COMMONWEALTH FINANCIAL (FCF) 2,921 2,584
FIRST FINCL CP INDIANA (THFF) 1,468 1,521
FNB CORPORATION (FNB) 9,519 9,801
FTI CONSULTING INC (FCN) 5,436 5,876
FULTON FINL CORP PA (FULT) 9,182 9,189
GLOBUS MEDICAL INC A (GMED) 5,388 5,570
GRAPHIC PACKAGING HOLDING CO (GPK) 6,098 6,386
H & R BLOCK INC (HRB) 8,391 12,450
HANCOCK WHITNEY CORPORATION (HWC) 12,747 11,565
HANOVER INSURANCE GROUP INC (THG) 14,180 14,864
HELEN OF TROY (HELE) 1,724 776
HF SINCLAIR CORPORATION (DINO) 3,386 4,566
HUB GROUP INC CL A (HUBG) 12,136 12,003
HUNTSMAN CORP (HUN) 13,974 11,569
INSIGHT ENTERPRISES INC (NSIT) 1,150 1,103
INTEGER HOLDINGS CORP (ITGR) 2,306 1,780
INTEGRA LIFESCIENCES CRP NEW (IART) 13,447 12,448
JABIL CIRCUIT INC (JBL) 30,991 32,872
JEFFERIES FINL GROUP INC (JEF) 1,749 1,440
KFORCE.COM (KFRC) 2,921 2,029
KONTOOR BRANDS INC (KTB) 7,363 6,038
LAKELAND BANCORP INC N. J. (LBAI) 1,198 1,109
LAKELAND FINCL (LKFN) 2,196 2,262
LANDSTAR SYSTEM INC (LSTR) 22,953 21,503
LHC GRP (LHCG) 2,465 2,749
LOUISIANA PACIFIC CORP (LPX) 10,098 9,058
LUMENTUM HLDGS INC COM (LITE) 2,147 1,252
MANPOWERGROUP INC COM (MAN) 4,238 3,412
MARINEMAX INC COM FL (HZO) 2,545 1,374
MASONITE INTL CORP NEW COM (DOOR) 4,423 3,224
MAXLINEAR INC CLASS A (MXL) 3,084 2,954
MEDPACE HOLDINGS, INC. (MEDP) 25,531 28,251
MERIDIAN BIOSCIENCE INC (VIVO) 1,744 2,657
MERIT MED SYST (MMSI) 10,135 10,452
MERITAGE HOME CORPORATION (MTH) 7,706 7,099
MUELLER INDUS INC (MLI) 7,116 7,198
MURPHY USA INC COM (MUSA) 14,567 20,127
NEWMARK GROUP INC CL A (NMRK) 3,646 2,893
NEXSTAR MEDIA GROUP INC (NXST) 15,950 16,628
OFFICE PPTYS INCOME TR BEN INT (OPI) 1,489 734
OTTER TAIL CORP (OTTR) 2,072 1,820
OXFORD INDUSTRIES INC (OXM) 4,273 3,914
PERDOCEO ED CORP (PRDO) 1,035 1,348
PIEDMONT OFFICE RLTY TR CL-A (PDM) 8,365 4,796
PORTLAND GENERAL ELEC CO (POR) 1,186 1,176
PRIMERICA INC (PRI) 5,323 4,680
PRIMORIS SERVICES CORP (PRIM) 1,253 1,075
PROGRESS SOFTWARE (PRGS) 8,922 8,526
RALPH LAUREN CORP CL A (RL) 9,326 8,665
RENT-A-CTR INC. (RCII) 3,599 1,736
SANMINA CORP (SANM) 9,932 14,380
SCIENCE APPLICATIONS INTL CP (SAIC) 8,865 11,093
SIGNET JEWELERS LIMITED (SIG) 7,946 6,392
SONOCO PRODUCTS CO (SON) 8,167 8,560
STEPAN CO (SCL) 2,099 1,810
STEWART INFORMATION SERVICES (STC) 3,398 1,837
STIFEL FINANCIAL CORPORATION (SF) 7,498 6,012
STRIDE INC (LRN) 3,143 2,721
THE SIMPLY GOOD FOODS COMPANY (SMPL) 7,353 7,074
TOPBUILD CORP COM (BLD) 6,259 5,321
TOWNEBANK VA (TOWN) 1,088 1,018
TRINET GROUP INC (TNET) 8,864 6,170
TTEC HOLDINGS INC (TTEC) 2,171 1,103
UNITED THERAPEUTICS CORP (UTHR) 17,078 23,360
VALVOLINE INC COM (VVV) 5,604 5,126
VERITIV CORP COM (VRTV) 1,901 1,704
VIRTU FINANCIAL INC (VIRT) 16,590 10,797
WASHINGTON FEDERAL INC (WAFD) 10,317 9,763
ZIFF DAVIS INC (ZD) 23,856 14,950
ALIBABA GROUP HLDG LTD (BABA) 4,621 4,493
AMERIPRISE FINCL INC (AMP) 40,384 47,017
APPLE INC (AAPL) 101,470 88,742
BROWN & BROWN INC (BRO) 10,201 10,027
CHEVRON CORP (CVX) 72,335 74,488
CRH PLC ADR (CRH) 54,681 54,154
DANAHER CORPORATION (DHR) 49,678 53,084
DIAGEO PLC SPON ADR NEW (DEO) 52,451 49,002
DOLLAR GEN CORP NEW COM (DG) 4,834 4,679
ESTEE LAUDER CO INC CL A (EL) 21,621 22,330
EXPERIAN GP LTD ADR (EXPGY) 17,401 17,663
FERRARI N V (RACE) 48,527 53,983
FIRST REPUBLIC BANK/CA (FRC) 38,939 33,032
FORTUNE BRANDS INNOVATIONS INC (FBIN) 12,242 12,336
HDFC BANK LTD ADR (HDB) 42,599 54,112
HOME DEPOT INC (HD) 12,282 12,319
JACK HENRY & ASSOC INC (JKHY) 5,593 4,916
JPMORGAN CHASE & CO (JPM) 32,092 35,402
LENNAR CORPORATION (LEN) 2,740 3,168
LULULEMON ATHLETICA INC (LULU) 33,004 34,601
LVMH MOET HENNESSY LOUIS VUITT (LVMUY) 53,245 61,823
MASTERBRAND INC (MBC) 2,060 1,631
MASTERCARD INC CL A (MA) 29,398 30,253
MC DONALDS CORP (MCD) 31,333 34,259
MGM RESORTS INTERNATIONAL (MGM) 26,415 24,678
MICROSOFT CORP (MSFT) 83,034 75,303
NETEASE.COM INC ADS (NTES) 40,889 33,482
NEXTERA ENERGY INC (NEE) 32,140 37,620
NIPPON TELEGRAPH&TELEPHONE ADS (NTTYY) 20,795 19,945
NUCOR CORPORATION (NUE) 2,962 2,900
PLANET FITNESS INC CL A (PLNT) 3,642 4,019
POOL CORP (POOL) 21,553 18,140
PROGRESSIVE CORP OHIO (PGR) 9,237 10,636
RH (RH) 4,050 4,275
RYANAIR HLDGS PLC ADR (RYAAY) 9,026 7,999
SBA COMMUNICATNS CORP NEW CL A (SBAC) 10,979 9,531
STORE CAPITAL CORPORATION (STOR) 15,955 18,531
SVB FNCL GRP (SIVB) 39,734 20,713
TAIWAN SMCNDCTR MFG CO LTD ADR (TSM) 49,352 39,480
TARGET CORPORATION (TGT) 15,596 10,880
TENCENT HLDGS LTD UNSPON ADR (TCEHY) 45,938 41,979
UNITED RENTALS INC (URI) 20,924 25,590
VALERO ENERGY CP DELA NEW (VLO) 6,550 6,470
VEEVA SYS INC CL A (VEEV) 6,546 6,455
WASTE MGMT INC (DELA) (WM) 3,588 3,451
ALPHABET INC CL A (GOOGL) 144,728 110,023
AMERIPRISE FINCL INC (AMP) 71,125 82,824
APPLE INC (AAPL) 173,525 151,758
BROWN & BROWN INC (BRO) 49,167 48,311
CHEVRON CORP (CVX) 125,671 129,412
COSTCO WHOLESALE CORP NEW (COST) 71,470 66,649
DANAHER CORPORATION (DHR) 79,965 85,465
DOLLAR GEN CORP NEW COM (DG) 24,496 24,133
EDWARD LIFESCIENCES CORP (EW) 14,238 10,968
ESTEE LAUDER CO INC CL A (EL) 34,592 35,728
FIRST REPUBLIC BANK/CA (FRC) 100,209 86,054
FORTUNE BRANDS INNOVATIONS INC (FBIN) 26,817 27,527
HOME DEPOT INC (HD) 95,761 101,707
JACK HENRY & ASSOC INC (JKHY) 30,071 28,090
JPMORGAN CHASE & CO (JPM) 51,420 56,724
LENNAR CORPORATION (LEN) 18,707 21,630
LULULEMON ATHLETICA INC (LULU) 32,720 34,281
MASTERBRAND INC (MBC) 4,512 3,639
MASTERCARD INC CL A (MA) 38,531 39,641
MC DONALDS CORP (MCD) 70,853 77,478
MGM RESORTS INTERNATIONAL (MGM) 32,994 30,814
MICROSOFT CORP (MSFT) 172,943 156,842
NEXTERA ENERGY INC (NEE) 60,709 71,060
NUCOR CORPORATION (NUE) 6,043 5,800
POOL CORP (POOL) 66,369 52,908
PROGRESSIVE CORP OHIO (PGR) 75,444 87,554
RH (RH) 30,851 29,391
SBA COMMUNICATNS CORP NEW CL A (SBAC) 39,811 35,039
STORE CAPITAL CORPORATION (STOR) 48,703 57,708
SVB FNCL GRP (SIVB) 77,776 40,505
TJX COS INC NEW (TJX) 10,039 10,268
UNITED RENTALS INC (URI) 68,602 83,879
VALERO ENERGY CP DELA NEW (VLO) 21,318 21,059
VEEVA SYS INC CL A (VEEV) 16,695 16,461
WASTE MGMT INC (DELA) (WM) 83,281 83,303
WEST PHARMACEUTICAL SVCS INC (WST) 33,831 26,124
ANGEL OAK MULTI STRAT INC I (ANGIX) 2,001,411 1,566,834
PIMCO INCOME I2 (PONPX) 1,843,657 1,600,448
VOYA STRAT INC OPPPORT I (IISIX) 1,056,837 952,346

TY 2022 InvestmentsGovtObligationsSch
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
US Government Securities - End of Year Book Value:

25,599
US Government Securities - End of Year Fair Market Value:

20,089
State & Local Government Securities - End of Year Book Value:


1,289,321
State & Local Government Securities - End of Year Fair Market Value:


1,165,329


TY 2022 InvestmentsOtherSchedule2
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
BOYD WATTERSON GSA FUND, LP AT COST 1,037,365 1,044,278
ICAP MILLENNIUM LTD HH-2C AT COST 1,000,000 1,030,712
OAK STREET REAL ESTATE CAPITAL NET LEASE PROPERTY FUND LP AT COST 1,003,718 1,003,718
HUDSON BAY LTD - ADVISORY AT COST 1,000,000 1,019,480
OAKTREE REAL ESTATE OPPORTUNITIES FUND VI, LP AT COST 344,129 446,102
CARLYLE STRUCTURED CREDIT FUND, LP AT COST 16,445 5,823
CK OPPORTUNITIES OFFSHORE FUND, LP AT COST 752,205 922,318
AIP PRIVATE EQUITY CO-INVEST (PECO II) AT COST 519,315 633,487
BRIDGE MULTIFAMILY IV INT-A AT COST 1,563,784 3,110,659
NORTH HAVEN EXPANSION CREDIT II LP AT COST 307,545 317,541

TY 2022 OtherAssetsSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
DECLARED DIVIDENDS 18,104 0 0


TY 2022 OtherDecreasesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Amount
PRIOR PERIOD ADJUSTMENTS FOR BOOK/TAX BASIS ADJUSTMENTS 211,242


TY 2022 OtherExpensesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OAKTREE REAL ESTATE OPPORTUNITIES FUND VI, LP 6,720 6,720   0
OAKTREE REAL ESTATE OPPORTUNITIES FUND VI AIF (CAYMAN), LP 367 367   0
CARLYLE STRUCTURED CREDIT FUND, LP 2,147 2,147   0
BOYD WATTERSON GSA FUND, LP 13,278 13,278   0
CK OPPORTUNITIES OFFSHORE FUND, LP 15,501 15,501   0
MISCELLANEOUS EXPENSE 2,047 0   0
OFFICE EXPENSE 419 210   209
OAK STREET REAL ESTATE CAPITAL NET LEASE PROPERTY FUND LP 2,870 2,870   0
BANK FEES 16,932 16,932   0


TY 2022 OtherIncomeSchedule2
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
MISCELLANEOUS INCOME 195 195 195
CK OPPORTUNITIES OFFSHORE FUND, LP 1,593 1,593 1,593
CARLYLE STRUCTURED CREDIT FUND 62 62 62


TY 2022 OtherIncreasesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Amount
INCOME ON BOOKS REPORTED IN PRIOR YEAR 15,427


TY 2022 OtherLiabilitiesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Description Beginning of Year - Book Value End of Year - Book Value
CREDIT CARD 7,474 0


TY 2022 OtherProfessionalFeesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT FEES 183,483 183,483   0


TY 2022 TaxesSchedule
Name:
THE NORMAN & SADIE LEE FOUNDATION
EIN:
95-3333368
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
EXCISE TAXES 60,356 0   0
FOREIGN TAXES PAID 9,808 9,786   0
FEDERAL TAX WITHHELD 404 213   0