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
AM Josephs Family 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

27-1715734
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$1,813,490J 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 6,821 6,821  
4 Dividends and interest from securities... 60,808 60,808  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 14,802
b Gross sales price for all assets on line 6a 692,435
7 Capital gain net income (from Part IV, line 2)... 14,802
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
8,280 8,280  
12 Total. Add lines 1 through 11........ 90,711 90,711  
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).......        
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
8,707 8,707    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
901 1    
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
13,283 45   13,238
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 22,891 8,753   13,238
25 Contributions, gifts, grants paid....... 71,610 71,610
26 Total expenses and disbursements. Add lines 24 and 25 94,501 8,753   84,848
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -3,790
b Net investment income (if negative, enter -0-) 81,958
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......... 379,316 266,803 266,803
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)....... 1,164,249 Click to see attachment
List of Attached Documents:
// Content
1,264,692 		1,432,391
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).......... 111,074 Click to see attachment
List of Attached Documents:
// Content
119,354 		114,296
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 1,654,639 1,650,849 1,813,490
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)    
23 Total liabilities (add lines 17 through 22)......... 0 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........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 1,654,639 1,650,849
29 Total net assets or fund balances (see instructions)..... 1,654,639 1,650,849
30 Total liabilities and net assets/fund balances (see instructions). 1,654,639 1,650,849
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
1,654,639
2
Enter amount from Part I, line 27a .....................
2
-3,790
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
1,650,849
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
1,650,849
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 692,435   677,633 14,802
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       14,802
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 14,802
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 1,139
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 1,139
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 1,139
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 1,987
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 1,987
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 10 848
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow848 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 arrowDE
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 arrow  
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)
 
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 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
Allen Josephs Pres, Dir, Sec
1.0 		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
 
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  
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
1,323,684
b
Average of monthly cash balances.......................
1b
300,790
c
Fair market value of all other assets (see instructions)................
1c
114,296
d
Total (add lines 1a, b, and c).........................
1d
1,738,770
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
0
3
Subtract line 2 from line 1d.........................
3
1,738,770
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
26,082
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
1,712,688
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
85,634
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
85,634
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
1,139
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
1,139
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
84,495
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
84,495
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
84,495
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
84,848
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
0
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
84,848
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 84,495
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...... 9,656
c From 2020...... 8,820
d From 2021...... 22,544
e From 2022......  
f Total of lines 3a through e ........ 41,020
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 84,848
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..... 84,495
e Remaining amount distributed out of corpus 353
5 Excess distributions carryover applied to 2023.    
(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 41,373
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 ...... 		41,373
10 Analysis of line 9:
a Excess from 2019.... 9,656
b Excess from 2020.... 8,820
c Excess from 2021.... 22,544
d Excess from 2022....  
e Excess from 2023.... 353
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).)
Allen Josephs
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

AMERICAN FRIENDS OF DARCHE NOAM INC

176-25 UNION TPKE 336
FRESH MEADOWS,NY11366 		N/A PC Midreshet Rachel 6,000

AMERICAN FRIENDS OF LEKET ISRAEL INC

PO BOX 2090
TEANECK,NJ07666 		N/A PC Purim fund 500

AMERICAN FRIENDS OF SHALVAT CHAYIM INC

7511 174TH ST
FLUSHING,NY11366 		N/A PC General & Unrestricted 180

AMERICAN FRIENDS OF YAD ELIEZER INC

410 GLENN RD
JACKSON,NJ08527 		N/A PC General & Unrestricted 1,000

COLEL CHABAD

806 EASTERN PKWY
BROOKLYN,NY11213 		N/A PC maos chittim fund 1,000

JEW IN THE CITY

PO BOX 2168
TEANECK,NJ07666 		N/A PC General & Unrestricted 10,000

TAMPA TORAH ACADEMY

5209 TAMPA PALMS BLVD
TAMPA,FL33647 		N/A PC General & Unrestricted 250

TORAH ACADEMY OF BOCA RATON INC

447 NW SPANISH RIVER BLVD
BOCA RATON,FL33431 		N/A PC General & Unrestricted 4,000

TORAH ACADEMY OF THE PACIFIC NORTHWEST

5305 52ND AVE S
SEATTLE,WA98118 		N/A PC General & Unrestricted 180

YESHIVA TIFERES TORAH OF BOCA RATON INC

7200 PALMETTO CIR N
BOCA RATON,FL33433 		N/A PC General & Unrestricted 10,000

YOUNG ISRAEL OF BOCA RATON

7200 PALMETTO CIR NORTH
BOCA RATON,FL33433 		N/A PC Building fund 25,000

YOUNG ISRAEL OF BOCA RATON

7200 PALMETTO CIR NORTH
BOCA RATON,FL33433 		N/A PC General & Unrestricted 11,000

YOUNG ISRAEL OF BOCA RATON

7200 PALMETTO CIR NORTH
BOCA RATON,FL33433 		N/A PC Rabbi Discretionary Fund 2,500
Total .................................right arrow 3a 71,610
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 6,821  
4 Dividends and interest from securities ....     14 60,808  
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 14,802  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aANNUITY INCOME 		    01 8,280  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   90,711  
13Total. Add line 12, columns (b), (d), and (e)..................
13
90,711
(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

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TY 2023 DepreciationSchedule
Name:
AM Josephs Family Foundation
EIN:
27-1715734
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

TY 2023 InvestmentsCorpStockSchedule
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Name of Stock End of Year Book Value End of Year Fair Market Value
ABERDEEN STANDARD GLOBAL INFRA 832 879
ADAMS DIVERSIFIED EQUITY FUND 3,495 4,020
ADVENT CLAYMORE CONV 10,315 9,468
ALAMO GP INC 5,799 27,745
ALLIANCEBERNSTEIN GLOBAL HIGH 3,587 3,623
ALLIANZGI CONVERTIBLE & INC 7,509 7,148
ALLIANZGI CONVERTIBLE & INC II 7,637 7,134
ALLIANZGI NFJ DIVIDEND INT & P 25,415 28,942
ALPINE GLOBAL PREMIER PROP FD 5,506 5,009
ALPINE TOTAL DYNAMIC DIVIDEND 17,252 19,368
APOLLO SENIOR FLOATING RATE FU 1,274 1,299
APOLLO TACTICAL INCOME FUND IN 2,146 2,359
APPLE INC 5,203 53,908
ARES DYNAMIC CR ALLOCATION FD 1,276 1,403
AVENUE INCOME CREDIT STRATEGY 1,449 1,591
BLACKROCK CAPITAL ALLOCATION T 13,423 13,515
BLACKROCK CORE BOND TRUST 11 11
BLACKROCK CREDIT ALLOCATION IN 40,178 37,544
BLACKROCK GLOBAL OPPORTUNITIES 10,114 10,158
BLACKROCK HEALTH SCIENCES CLOS 8,899 8,365
BLACKROCK INNOVATION AND GROWT 9,413 9,228
BLACKROCK RESOURCES & COMMODIT 3,654 3,508
BLACKROCK SCIENCE AND TECHNOLO 10,100 9,341
BRAINSTORM CELL THERAPEUTICS 3,835 273
BRANDYWINE GLOBAL INCOME OPPOR 8,598 8,497
BROOKFIELD REAL ASSETS INCOME 545 576
CAPITAL PRODUCT PARTNERS UNITS 13,134 16,231
CBRE CLARION GLOBAL REAL ESTAT 16,680 15,340
CLOUGH GLOBAL OPPRT FUND 1,374 1,293
COHEN & STEERS REAL ESTATE OPP 3,981 3,861
DELTA APPAREL INC 1,903 1,426
DREYFUS HI YL STR FD 1,317 1,353
DUCOMMUN INC 5,524 11,974
BLACKROCK ESG CAPITAL ALLOCATI 14,865 16,388
ENNIS BUSINESS FORMS 5,666 6,683
FAB UNIVERSAL CORP INC 2,176  
FIRST MAJESTIC SILVER CORP 10,126 6,150
FIRST TRUST HIGH INCOME LONG S 6,992 7,109
FIRST TRUST HIGH YIELD OPPORTU 1,325 1,379
FIRST TRUST INTERMEDIATE DURAT 7,266 6,394
FLEXSTEEL INDUSTRIES INC 5,794 4,524
FRANKLIN TEMPLETON LIMITED DUR 961 964
GABELLI DIVIDEND & INCOME TRUS 12,536 12,854
GENERAL AMER INVESTORS 1,717 2,148
GLOBAL X SILVER MINERS ETF 6,411 5,674
HIGHLAND OPPORTUNITIES & INC 709 623
HIMAX TECHNOLOGIES - ADR 12,368 12,140
HNI CORP 1,768 2,886
HOOKER FURNITURE CORPORATION 3,041 5,216
IDT CORP CL B 7,457 21,579
INTERNATIONAL PAPER CO 4,239 3,615
INTERNATIONAL SEAWAYS INC 8,612 19,738
INVESCO QQQ TRUST 49,785 57,742
ISHARES CORE MSCI EAFE ETF 56,007 60,431
ISHARES CORE MSCI EMERGING MAR 33,339 31,865
ISHARES MSCI GLOBAL GOLD MINER 38,639 36,870
ISHARES RUSSELL 1000 INDEX FD 15,240 22,554
ISHARES S&P 500 INDEX FD 26,811 42,509
ISHARES TRUST MSCI EAFE INDEX 10,893 13,186
ISHARES TRUST RUSSELL 1000 GRO 35,317 43,960
KEYTRONIC CORPORATION 5,654 2,268
KIMBALL ELECTRONICS, INC 1,680 10,807
KINDER MORGAN INC 4,899 5,292
KKR INCOME OPPORTUNITIES FUND 3,112 3,406
LIBERATED SYND COM 72 1,500
M F S INTRMDT INC TR 1,373 1,289
MAINSTAY CBRE GLOBAL INFRASTRU 9,994 8,891
MFS CHARTER INC. SH BEN INT 10,117 9,890
MFS MULTIMARKET INCOME TRUST 11,603 11,061
MITCHAM INDS 5,619 208
MORGAN STANLEY EMERGING MKTS D 388 377
NUVEEN CORE PLUS IMPACT FUND 6,172 5,665
NUVEEN CREDIT STRATEGIES INCOM 15,311 15,018
NUVEEN FLTG RT INC 2,265 2,318
NUVEEN GLOBAL HIGH INCOME FUND 1,696 1,696
NUVEEN MLT STR I&G 13,464 13,506
NUVEEN REAL ASSET INCOME AND G 10,112 9,024
NUVEEN VARIABLE RATE PFD FUND 2,236 2,194
OLYMPIC STEEL INC 5,680 14,007
PC CONNECTION 5,737 24,196
PENN TREATY AMER CP 1,037 937
PRECIGEN 4,351 268
PRUDENTIAL GLOBAL SHORT DURATI 12,736 12,314
PRUDENTIAL SHORT DURATION HIGH 6,700 6,369
PUTNAM PREMIER INCM 2,991 2,838
RAFAEL HOLDINGS, INC 2,756 578
REX AMERICAN RESOURCES CORPORA 5,653 23,414
RIVERNORTH DOUBLELINE STRATEGI 4,327 4,113
ROYCE MICRO CAP TRUST INC 1,449 1,543
SALEM COMMUNICATIONS CORP 5,758 277
SCHWAB US BROAD MARKET 22,937 25,720
PGIM SHORT DURATION HIGH YLD 342 345
SELIGMAN LASALLE IRE 4,735 2,120
SHOE CARNIVAL, INC 5,558 12,990
SPDR DOW JONES INDUSTRIAL AVER 15,959 21,105
SPDR S&P 500 ETF TRUST 18,857 19,012
SRH TOTAL RETURN FUND INC 5,432 7,365
STANDARD MOTOR PRODS 5,641 6,768
SUPERCOM LTD 120,897 5,574
SYLVAMO CORP 236 442
TEMPLETON EMERGING MARKETS INC 3,691 3,509
TEMPLETON GLOBAL INCOME FUND 1,158 1,035
TESLA MOTORS INC 3,831 7,454
TEVA PHARMACEUTICAL INDUSTRIES 14,957 9,396
THORNBURG INCOME BUILDER OPPOR 769 776
TUPPERWARE CORP 4,370 100
USD ROCKY BRANDS INC 4,650 9,054
VANGUARD S&P 500 ETF 35,803 39,749
VANGUARD TOTAL STOCK MARKET ET 50,054 109,358
VANGUARD VALUE ETF 32,746 38,721
VAXIL BIO LTD CA COM NPV 6,530 740
VERTEX PHARMCTLS INC 12,023 40,689
VOXX INTERNATIONAL CORPORATION 5,565 4,379
VOYA GLOBAL EQ DIV & PREM OPPT 1,635 1,362
WEC ENERGY GROUP, INC 4,195 8,417
WELLS FARGO ADVANTAGE INCOME O 6,163 5,985
WESTERN ASSET DIVERSIFIED INCO 20,270 20,572
WESTERN ASSET EMERGING MARKETS 18,337 18,061
WESTERN ASSET/CLAYMORE US TREA 23,415 21,528
WESTERN ASSET/CLAYMR 673 625
WILLIS LEASE FINANCE CORPORATI 5,791 19,796
XOMA LTD 9,238 2,313
ZEDGE, INC 1,854 496

TY 2023 InvestmentsOtherSchedule2
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ANNUITY - JACKSON LIFE #102246   119,354 114,296

TY 2023 OtherExpensesSchedule
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Fees 13,213     13,213
Bank Charges 45 45    
State or Local Filing Fees 25     25


TY 2023 OtherIncomeSchedule2
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
Annuity Income 8,280 8,280  


TY 2023 OtherProfessionalFeesSchedule
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Management Services 8,707 8,707    


TY 2023 TaxesSchedule
Name:
AM Josephs Family Foundation
EIN:
27-1715734
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
990-PF Estimated Tax for 2023 900      
Foreign Tax Paid 1 1