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
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
DHC & CLC Foundation
 
% Foundation Source
Number and street (or P.O. box number if mail is not delivered to street address)Foundation Source 501 Silverside Rd
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Wilmington, DE198091377
A Employer identification number

81-1567287
B Telephone number (see instructions)

(800) 839-1754
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$77,159,344J 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) 398,453
2 Check right arrow.............
3 Interest on savings and temporary cash investments 614 614  
4 Dividends and interest from securities... 906,668 906,668  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -1,284,504
b Gross sales price for all assets on line 6a 768,623
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
14,500    
12 Total. Add lines 1 through 11........ 35,731 907,282  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 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
9,000 0 0 9,000
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
294,628 294,628    
17 Interest............... 726,639 15,675    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
188,749 20,378   149,131
19 Depreciation (attach schedule) and depletion... Click to see attachment
List of Attached Documents:
// Content
158,830    
20 Occupancy.............. 38,243     38,243
21 Travel, conferences, and meetings....... 587     587
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
299,234 1,951   297,283
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,715,910 332,632 0 494,244
25 Contributions, gifts, grants paid....... 212,000 212,000
26 Total expenses and disbursements. Add lines 24 and 25 1,927,910 332,632 0 706,244
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,892,179
b Net investment income (if negative, enter -0-) 574,650
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
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......... 70,874 189,735 189,735
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)....... 59,209,744 Click to see attachment
List of Attached Documents:
// Content
57,611,187 		64,603,026
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)..........      
14 Land, buildings, and equipment: basis right arrow12,336,290
Less: accumulated depreciation (attach schedule) right arrow244,128 12,240,626 Click to see attachment
List of Attached Documents:
// Content
12,092,162 		12,334,933
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
1,650 		Click to see attachment
List of Attached Documents:
// Content
31,650 		Click to see attachment
List of Attached Documents:
// Content
31,650
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 71,522,894 69,924,734 77,159,344
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
12,413,499 		Click to see attachment
List of Attached Documents:
// Content
12,707,518
23 Total liabilities (add lines 17 through 22)......... 12,413,499 12,707,518
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 59,109,395 57,217,216
29 Total net assets or fund balances (see instructions)..... 59,109,395 57,217,216
30 Total liabilities and net assets/fund balances (see instructions). 71,522,894 69,924,734
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
59,109,395
2
Enter amount from Part I, line 27a .....................
2
-1,892,179
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
57,217,216
5
Decreases not included in line 2 (itemize) right arrow
5
 
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
57,217,216
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a Publicly-traded Securities      
b
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 768,623   926,166 -157,543
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -157,543
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -157,543
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  
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 7,988
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 7,988
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 7,988
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 1,200
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 7,600
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 8,800
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 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 10 812
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow812 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowCA, DE
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 2023 or the taxable year beginning in 2023? 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
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowFoundation Source Telephone no.right arrow (800) 839-1754

Located atright arrow501 Silverside Road Suite 123WilmingtonDE ZIP+4right arrow198091377
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, 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
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
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 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
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 2023 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 2023.) .....................
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 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
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
Cai Li Chang Dir, Sec, Treas
35.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
Daniel Hai-ming Chang Dir, Pres
15.0 		0 0 0
Foundation Source 501 Silverside Rd
Wilmington,DE198091377
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
 
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
Fidelity INVESTMENT MGMT 222,466
245 SUMMER STREET
BOSTON,CA02210
Charles Schwab & Co Investment Mgmt 72,162
3000 SCHWAB WAY
WESTLAKE,TX76262
FOUNDATION SOURCE Administrative 75,400
55 WALLS DRIVE 3RD FL
FAIRFIELD,CT06824
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1 EDUCATIONAL LECTURE SERIES - PROVIDE EDUCATIONAL RESOURCES AND LEARNING OPPORTUNITIES THAT ARE NOT COMMONLY AVAILABLE IN CHINESE TO LOCAL CHINESE (MANDARIN)-SPEAKING COMMUNITY 1,905
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
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
57,997,424
b
Average of monthly cash balances.......................
1b
111,236
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
58,108,660
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
 
2
Acquisition indebtedness applicable to line 1 assets..................
2
12,693,889
3
Subtract line 2 from line 1d.........................
3
45,414,771
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
681,222
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
44,733,549
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
2,236,677
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
2,236,677
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
7,988
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
7,988
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
2,228,689
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
2,228,689
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
2,228,689
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
706,244
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
40,366
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
0
b
Cash distribution test (attach the required schedule) .................
3b
0
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
746,610
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 2,228,689
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:2021, 2020, 2019  
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022...... 10,015,508
f Total of lines 3a through e ........ 10,015,508
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 746,610
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		 
c Treated as distributions out of corpus (Election
required—see instructions)........ 		 
d Applied to 2023 distributable amount..... 746,610
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 1,482,079 1,482,079
(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 8,533,429
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		 
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		8,533,429
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022.... 8,533,429
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
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 2023, 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) 2023 (b) 2022 (c) 2021 (d) 2020
         
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).)
Cai Li Chang
Daniel Hai-ming Chang
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 (2023)
Form 990-PF (2023)
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

CAMPANILE FOUNDATION

5500 CAMPANILE DR 168
SAN DIEGO,CA92182 		N/A PC provide support for the Electric Drive Transportation Center in the Electrical and Computer Engineering department 200,000

CHINESE WRITERS ASSOCIATION OF AMERICA

10785 BIRCH BLUFF AVE
SAN DIEGO,CA92131 		N/A PC for the publication of the anthology of the Writers Association 1,000

FRIENDS OF COAST WALK TRAIL

1515 COAST WALK
LA JOLLA,CA92037 		N/A PC General & Unrestricted 2,500

FRIENDS OF WE CHINESE IN AMERICA

4151 CLAIREMONT MESA BLVD
SAN DIEGO,CA92117 		N/A PC General & Unrestricted 3,500

U C SAN DIEGO FOUNDATION

9500 GILMAN DR MC 0940
LA JOLLA,CA92093 		N/A PC Global Policy and Strategy 21st Century China Center 5,000
Total .................................right arrow 3a 212,000
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
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 ........... 		    14 614  
4 Dividends and interest from securities ....     14 906,668  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............ 		    18 -1,284,504  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aFederal Tax Refund 		    01 14,500  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   -362,722  
13Total. Add line 12, columns (b), (d), and (e)..................
13
-362,722
(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 (2023)
Form 990-PF (2023)
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 (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2023
Name of the organization
DHC & CLC Foundation
 
Employer identification number

81-1567287
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2023)
Schedule B (Form 990) (2023) Page 2
Name of organization
DHC & CLC Foundation
  		Employer identification number
81-1567287
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
1
Chang Family Irrevocable Trust
501 Silverside Rd Suite 123
 
Wilmington, DE18909

$ 398,453


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 3
Name of organization
DHC & CLC Foundation
  		Employer identification number

81-1567287
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
1
 NVIDIA CORP NVDA, 816 sh. $ 398,453 2023-12-22
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2023)
Schedule B (Form 990) (2023)
Page 4
Name of organization
DHC & CLC Foundation
  		Employer identification number

81-1567287
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2023)
Additional Data


Software ID:  
Software Version:  

TY 2023 AccountingFeesSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BOOKKEEPING SERVICES 9,000     9,000

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

TY 2023 DepreciationSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Description of Property Date Acquired Cost or Other Basis Prior Years' Depreciation Computation Method Rate /
Life (# of years)		 Current Year's Depreciation Expense Net Investment Income Adjusted Net Income Cost of Goods Sold Not Included
BUILDING 2022-06-23 4,330,514 85,298 SL 27 157,473      
LAND 2022-06-23 7,995,410   L          
FURNITURE - SOFA 2023-02-01 10,366   SL 7 1,357      

TY 2023 InvestmentsCorpStockSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Name of Stock End of Year Book Value End of Year Fair Market Value
ABB LTD 463,941 571,470
ABBOTT LABS 692,227 688,488
ABBVIE INC 486,136 601,594
ADOBE SYSTEMS, INC 331,620 375,858
ADVANCED MICRO DEVICES INC 515,405 515,935
AIR PRODS & CHEM INC 353,107 376,475
ALBEMARLE CP 641,967 411,768
ALPHABET INC CL A 1,562,186 1,556,146
AMAZON COM 1,550,866 1,464,701
AMGEN INC 247,615 339,864
AMPHENOL CORPORATION 339,493 455,998
ANALOG DEVICES INC 550,403 714,816
ANSYS INC 62,062 90,720
APPLE INC 1,648,146 2,165,962
APPLIED MATERIALS INC 1,386,321 1,928,632
BANK OF AMERICA CORP 728,750 604,377
BAYER A G SPONSORED ADR 15,965 9,230
BIOGEN INC 167,365 181,139
BLACKROCK INC 515,540 511,434
BOEING CO 180,104 205,921
BRISTOL-MYERS SQUIBB CO 115,464 102,620
BROADCOM INC 1,055,600 2,152,129
BUNGE GLOBAL SA 109,386 121,140
CANADIAN PACIFIC RAILWAY LTD 914,778 786,568
CAPITAL ONE FINANCIAL CORP 411,563 385,493
CARRIER GLOBAL 219,807 246,690
CATERPILLAR INC 371,056 576,557
CENTENE CORP 320,389 304,261
CF INDUSTRIES HOLDINGS, INC 530,923 616,920
CHECK POINT SOFTWARE TECHNOLOG 208,716 275,022
CHENIERE ENERGY INC 327,806 559,075
CHEVRON CORP 390,835 492,228
CHUBB LIMITED 444,930 524,320
CIGNA CORPORATION 104,943 122,176
CISCO SYSTEMS INC 589,211 522,377
CITIGROUP INC 187,426 158,178
COMERICA INC 265,456 181,383
CONOCOPHILLIPS 707,882 1,146,771
CORTEVA INC 120,076 125,359
COSTCO WHOLESALE CORPORATION 664,031 1,003,321
CSX CORP 594,948 613,659
CVS CAREMARK CORP 538,213 430,332
D R HORTON 160,820 250,767
DEERE CO 805,311 1,019,668
DELL TECHNOLOGIES INC CLASS C 253,052 386,937
DEXCOM, INC 153,395 151,390
DIAGEO PLC ADS 265,813 202,467
DOLLAR GENERAL CORP 173,251 108,760
DOW INC 45,760 48,424
EAST WEST BANCORP, INC 470,792 460,480
ELI LILLY & CO 388,946 932,671
EOG RESOURCES INC 223,070 314,470
EXPEDITORS INTL WASH INC 295,573 345,984
EXXON MOBIL CORP 58,750 79,984
FEDEX CORPORATION 176,742 177,079
FORTREA HOLDINGS INC 105,240 82,015
FREEPORT-MCMORAN COPPER & GOLD 760,644 859,062
GEN DYNAMICS CP 116,304 145,415
GLOBE LIFE INC 79,969 91,290
GOLDMAN SACHS GROUP 734,365 775,398
HALLIBURTON COMPANY 14,663 21,690
HOME DEPOT INC 591,450 557,946
HONEYWELL INTL 310,646 350,216
HSBC HOLDINGS PLC 53,152 44,594
IAC INTERACTIVE CORP 121,463 69,665
ILLINOIS TOOL WORKS 388,160 453,156
INGERSOLL-RAND INC 10,558 13,612
INTEL CORP 452,653 473,606
INTERCONTINENTAL EXCHANGE, INC 455,737 436,662
INTERNATIONAL BUSINESS MACHINE 64,490 81,775
INTERNATIONAL PAPER CO 76,815 62,178
INTUIT 1,199,165 1,246,934
JD.COM, INC 365,516 138,672
JOHNSON & JOHNSON 160,617 152,822
JP MORGAN CHASE 568,091 650,633
KROGER CO 132,270 137,130
L3HARRIS TECHNOLOGIES 130,100 150,593
LABORATORY CORP AMER HLDGS 596,819 534,132
LAM RESEARCH CORP 35,723 62,661
LINDE PLC COM 355,919 470,263
LOCKHEED MARTIN CORP 27,285 45,324
LOWES COMPANIES INC 868,885 785,602
LVMH MOET HENN UNSP 495,512 592,943
MAGNA INTERNATIONAL INC 315,128 242,228
MARATHON OIL CORP COM 70,118 108,720
MARATHON PETROLEUM CORP 30,355 74,180
MARTIN MARIETTA MATLS INC 383,876 506,394
MARVELL TECHNOLOGY, INC 40,370 60,310
MASTERCARD INC 347,961 440,158
MATCH GROUP INC 342,796 104,719
MEDTRONIC PLC 329,606 271,854
MERCADOLIBRE, INC 322,565 502,893
META PLATFORMS INC 514,337 530,940
MICROSOFT CORP 2,172,056 2,553,311
MONDELEZ INTERNATIONAL INC 48,503 54,323
MONSTER BEVERAGE CORP 88,405 115,220
MORGAN STANLEY 573,099 612,653
NASDAQ OMX GROUP 512,003 584,307
NICE SYSTEMS LTD 514,175 394,032
NIDEC CORPORATION ADR 116,620 40,344
NORFOLK SOUTHERN CORP 552,509 534,219
NVIDIA CORP 2,425,868 4,336,145
O'REILLY AUTOMOTIVE INC 69,474 95,008
OCCIDENTAL PETROLEUM CORP 6,791 8,718
OCCIDENTAL PETROLEUM CORP WARR 89 701
ORACLE CORP 715,559 851,874
OWENS CORNING 200,755 340,929
PARKER HANNIFIN CP 406,079 612,731
PAYPAL HOLDINGS, INC 922,461 328,544
PROCTER GAMBLE CO 222,579 205,156
PULTE GROUP INC 46,555 103,220
QORVO INC 425,901 310,804
QUALCOMM INC 796,806 719,390
QUANTA SVCS INC 129,948 237,380
QUEST DIAGNOSTICS 78,443 65,493
RAYTHEON TECHNOLOGIES CORP 622,891 639,289
REGENERON PHARMACEUTICALS INC 137,831 197,615
RESMED INC 761,692 563,366
ROCHE HOLDING LTD ADR 445,793 313,933
ROCKWELL AUTOMATION INC 368,212 333,766
SALESFORCE.COM 563,166 671,007
SAP AKTIENGESELL ADS 374,294 420,485
SIEMENS AG 308,351 346,098
SK TELECOM ADS ADS 85,525 38,991
SKYWORKS SOLUTIONS, INC 396,563 286,671
STARBUCKS CORP COM 477,250 415,243
STRYKER CORPORATION 433,540 552,504
TAIWAN SEMICONDUCTOR MFG CO LT 912,635 924,039
TARGET CORPORATION 74,795 56,968
THERMO FISHER SCIENTIFIC INC 638,134 654,995
UFP INDUSTRIES 39,905 62,775
UNILEVER PLC AMER 71,044 65,448
UNION PACIFIC 550,770 591,944
V F CORP 138,034 34,404
VALERO ENERGY CORP 443,482 726,050
VEEVA SYSTEMS INC 51,015 57,756
VISA INC 470,760 611,823
WALT DISNEY HOLDINGS CO 424,432 249,652
WELLS FARGO & CO 138,714 147,660
WHIRLPOOL CORP 132,969 73,671
WYNDHAM HOTELS & RESORTS INC C 271,478 261,333
ZIMMER BIOMET HOLDINGS 179,978 176,465

TY 2023 LandEtcSchedule2
Name:
DHC & CLC Foundation
EIN:
81-1567287
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
BUILDING 4,330,514 242,771 4,087,743 4,330,514
LAND 7,995,410   7,995,410 7,995,410
FURNITURE - SOFA 10,366 1,357 9,009 9,009


TY 2023 OtherAssetsSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
A QUIET EVENING- OIL PAINTING   10,000 10,000
SPRING LIGHT-OIL PAINTING   20,000 20,000
STATUE - ANGEL MARBLE STATUE   771 771
STATUE - GARDEN MARBLE STATUE   879 879


TY 2023 OtherExpensesSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 75,400     75,400
Bank Charges 1,951 1,951    
Computers/Electronic Devices 2,833     2,833
Digital Subscriptions 193     193
Equipment Maintenance 910     910
EQUIPMENT/FURNITURE 12,670     12,670
Office & Supplies 16,644     16,644
Postage/Delivery Service 23     23
Property insurance 92,040     92,040
Property Maintenance 96,180     96,180
State or Local Filing Fees 390     390


TY 2023 OtherIncomeSchedule2
Name:
DHC & CLC Foundation
EIN:
81-1567287
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Federal Tax Refund 14,500    


TY 2023 OtherLiabilitiesSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Description Beginning of Year - Book Value End of Year - Book Value
LINE OF CREDIT 12,413,499 12,707,518


TY 2023 OtherProfessionalFeesSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 294,628 294,628    


TY 2023 ReasonableCauseExplanation
Name:
DHC & CLC Foundation
EIN:
81-1567287
Explanation:
We respectfully request that the Foundation's quarterly estimated tax payments be treated as timely and request that no underpayment penalties be assessed because the payment delay was due to reasonable cause. Treasury Regulations SEC. 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to submit a payment in a timely fashion for Form 990-PF. The Foundation's 2023 990-PF quarterly estimates were underpaid due to administrative error. It was discovered during the preparation of the 2023 990-PF that information relevant to the tax calculation was misclassified which caused the underpayment. Form 990-PF Part V, Line 8 reports no underpayment penalty of estimated tax since this was through no fault of the Foundation. The administrator is in the process of updating its policies and procedures to ensure that this will not occur in the future. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's and its administrator's actions were reasonable and in good faith. The underpayment of quarterly estimates was not in any way due to an intentional disregard of IRS rules but rather a clerical error. Therefore, we believe the Foundation is entitled to abatement of any penalty.

TY 2023 TaxesSchedule
Name:
DHC & CLC Foundation
EIN:
81-1567287
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2023 1,200      
990-PF Excise Tax for 2022 3,540      
990-T Extension for 2022 14,500      
Foreign Tax Paid 20,378 20,378    
Property Taxes 149,131     149,131