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
KIMSEY FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)900 16TH STREET NW 275
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
WASHINGTON, DC20006
A Employer identification number

52-2007895
B Telephone number (see instructions)

(202) 367-1037
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$29,854,028
J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books
(b) Net investment
income
(c) Adjusted net
income
(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 6,138 6,138  
4 Dividends and interest from securities... 157,901 157,901  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 1,438,105
b Gross sales price for all assets on line 6a 1,712,774
7 Capital gain net income (from Part IV, line 2)... 1,438,105
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)....... 6,752 773  
12 Total. Add lines 1 through 11........ 1,608,896 1,602,917  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages...... 358,232 201,195   157,037
15 Pension plans, employee benefits....... 190,297 38,899   151,398
16a Legal fees (attach schedule)......... 11,654 5,827   5,827
b Accounting fees (attach schedule)....... 4,600 2,300   2,300
c Other professional fees (attach schedule).... 3,910 1,955   1,955
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... 20,979 0   0
19 Depreciation (attach schedule) and depletion... 22,435 0  
20 Occupancy.............. 326,288 0   326,288
21 Travel, conferences, and meetings....... 61,185 0   61,185
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 177,103 77,740   99,363
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 1,176,683 327,916   805,353
25 Contributions, gifts, grants paid....... 672,732 672,732
26 Total expenses and disbursements. Add lines 24 and 25 1,849,415 327,916   1,478,085
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -240,519
b Net investment income (if negative, enter -0-) 1,275,001
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............. 43,861 240,591 240,591
2 Savings and temporary cash investments.........      
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).......      
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).......... 21,915,363 Click to see attachment
List of Attached Documents:
// Content
29,343,577
29,343,577
14 Land, buildings, and equipment: basis right arrow343,259
Less: accumulated depreciation (attach schedule) right arrow73,399 284,600 Click to see attachment
List of Attached Documents:
// Content
269,860
269,860
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 22,243,824 29,854,028 29,854,028
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
26,644
Click to see attachment
List of Attached Documents:
// Content
29,416
23 Total liabilities (add lines 17 through 22)......... 26,644 29,416
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........ 0 0
27 Paid-in or capital surplus, or land, bldg., and equipment fund 0 0
28 Retained earnings, accumulated income, endowment, or other funds 22,217,180 29,824,612
29 Total net assets or fund balances (see instructions)..... 22,217,180 29,824,612
30 Total liabilities and net assets/fund balances (see instructions). 22,243,824 29,854,028
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
22,217,180
2
Enter amount from Part I, line 27a .....................
2
-240,519
3
Other increases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
3
7,847,951
4
Add lines 1, 2, and 3 ..........................
4
29,824,612
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
29,824,612
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 MORGAN STANLEY- ACCT#7100 P    
b GREYCROFT GROWTH, LLC P    
c NBM INVESTMENT FUND P    
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 1,257,173   274,669 982,504
b 371,137     371,137
c 84,464     84,464
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       982,504
b       371,137
c       84,464
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 1,438,105
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 17,723
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 17,723
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 17,723
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 20,979
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 26,979
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 9,256
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow9,256 Refundedright arrow 11 0
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$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowDC, VA
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 arrowWWW.KIMSEYFOUNDATION.ORG
14
The books are in care ofright arrowKIMSEY FOUNDATION Telephone no.right arrow (202) 785-0307

Located atright arrow900 16TH STREET NW SUITE 275WASHINGTONDC ZIP+4right arrow20006
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)
Yes
 
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
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
Yes
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment
List of Attached Documents:
// Content
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
MICHAEL P KIMSEY PRESIDENT/DIRECTOR
15.00
0 42,202 0
900 16TH STREET NW SUITE 275
WASHINGTON,DC20006
RAYMOND C KIMSEY SECRETARY/DIRECTOR
15.00
0 38,416 0
900 16TH STREET NW SUITE 275
WASHINGTON,DC20006
MARK J KIMSEY TREASURER/DIRECTOR
15.00
0 41,094 0
900 16TH STREET NW SUITE 275
WASHINGTON,DC20006
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
MARK CHASE EMPLOYEE
40.00
229,937 44,456 0
900 16TH STREET NW SUITE 275
WASHINGTON,DC20006
BRIE HYTOVITZ EMPLOYEE
40.00
105,742 12,744 0
900 16TH STREET NW SUITE 275
WASHINGTON,DC20006
Total number of other employees paid over $50,000...................right arrow 0
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
NONE
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (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
22,688,123
b
Average of monthly cash balances.......................
1b
499,418
c
Fair market value of all other assets (see instructions)................
1c
4,295,930
d
Total (add lines 1a, b, and c).........................
1d
27,483,471
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
27,483,471
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
412,252
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
27,071,219
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,353,561
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,353,561
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
17,723
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
17,723
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,335,838
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,335,838
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,335,838
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,478,085
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,478,085
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 1,335,838
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 0
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 224,818
b From 2019...... 536,684
c From 2020...... 548,842
d From 2021...... 309,642
e From 2022...... 573,314
f Total of lines 3a through e ........ 2,193,300
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,478,085
a Applied to 2022, but not more than line 2a 0
b Applied to undistributed income of prior years
(Election required—see instructions).....
0
c Treated as distributions out of corpus (Election
required—see instructions)........
0
d Applied to 2023 distributable amount..... 1,335,838
e Remaining amount distributed out of corpus 142,247
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 2,335,547
b Prior years’ undistributed income. Subtract
line 4b from line 2b ..........
0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed......
0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ...........
0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions .............
0
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) .......
0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ...
224,818
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ......
2,110,729
10 Analysis of line 9:
a Excess from 2019.... 536,684
b Excess from 2020.... 548,842
c Excess from 2021.... 309,642
d Excess from 2022.... 573,314
e Excess from 2023.... 142,247
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).)
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

826DC

3333 14TH STREET NW
WASHINGTON,DC20010
  PC GENERAL OPERATING 5,000

ASPEN SPARK

900 16TH STREET NW
WASHINGTON,DC20006
  PF GENERAL OPERATING 80,000

AMERICAN FILM INSTITUTE

2021 NORTH WESTERN AVE
LOS ANGELES,CA90027
  PC GENERAL OPERATING 1,000

ANIMAL WELFARE LEAGUE OF ARLINGTON

2650 S ARLINGTON MILL DR
ARLINGTON,VA22206
  PC GENERAL OPERATING 5,000

ARMY NAVY COUNTRY CLUB

1700 ARMY NAVY DR
ARLINGTON,VA22202
  PC GENERAL OPERATING 500

ASPEN HOPE CENTER

PO BOX 1115
BASALT,CO81621
  PC GENERAL OPERATING 2,500

BULLIS SCHOOL INC

10601 FALLS RD
POTOMAC,MD20854
  PC GENERAL OPERATING 5,000

CAMPBELL HALL EPISCOPAL

4533 LAUREL CANYON BLVD
VALLEY VILLAGE,CA91067
  PC GENERAL OPERATING 8,182

CASCADES TENNIS JUNIOR SCHOLARSHIP FUND

39060 HIGHWAY 82
ASPEN,CO81611
  PC GENERAL OPERATING 1,000

CEDARS-SINAI MEDICAL CENTER

6500 WILSHIRE BLVD
LOS ANGELES,CA90048
  PC GENERAL OPERATING 2,000

CONNECTDMV

4611 VERPLANCK PL NW
WASHINGTON,DC20016
  PC GENERAL OPERATING 5,000

DANCE INITIATIVE

76 S 4TH STREET
CARBONDALE,CO81623
  PC GENERAL OPERATING 15,000

DC POLICY CENTER

1310 L STREET NW
WASHINGTON,DC20005
  PC GENERAL OPERATING 5,000

DELEWARE WILD LANDS INC

PO BOX 505
ODESSA,DE19730
  PC GENERAL OPERATING 5,000

DESWINE INTERVENTION

1802 UPPERLINE ST
NEW ORLEANS,LA70115
  PC GENERAL OPERATING 500

EDUCATION FORWARD DC

641 S ST NW
WASHINGTON,DC20001
  PC GENERAL OPERATING 2,500

FAIR CHANCE

8705 COLESVILLE RD
SILVER SPRING,MD20910
  PC GENERAL OPERATING 75,000

FIGHT FOR CHILDREN INC

1250 CONNECTICUT AVE
WASHINGTON,DC20036
  PC GENERAL OPERATING 12,000

FRESH WIND COMMUNITY DEVELOPMENT

1034 COOK DR SE
WASHINGTON,DC20032
  PC GENERAL OPERATING 42,500

FRIENDS OF GUY MASON RECREATION CENTER

2711 36TH STREET NW
WASHINGTON,DC20007
  PC GENERAL OPERATING 1,000

GOLDEN TRIANGLE CHARITABLE CORPORATION

1120 CONNECTICUT AVE NW
WASHINGTON,DC20036
  PC GENERAL OPERATING 5,000

GONZAGA COLLEGE HIGH SCHOOL

19 EYE ST NW
WASHINTON,DC20001
  PC GENERAL OPERATING 20,000

GOOD GROUND GOOD LIFE INC

5335 WISCONSIN AVE NW
WASHINGTON,DC20015
  PC GENERAL OPERATING 5,000

GOOD SHEPHERD CATHOLIC SCHOOL

504 N ROXBURY DR
BEVERLY HILLS,CA90210
  PC GENERAL OPERATING 6,250

HALCYON HOUSE

3400 PROSPECT ST NW
WASHINGTON,DC20007
  PC GENERAL OPERATING 30,000

HIGHER ACHIEVEMENT PROGRAM

1750 COLUMBIA ROAD NW
WASHINGTON,DC20009
  PC GENERAL OPERATING 25,000

HUNTER BROOKS WATSON MEMORIAL FUND

PO BOX 326
MCLEAN,VA22101
  PC GENERAL OPERATING 5,000

KIDSAVE INTERNATIONAL INC

100 CORPORATE POINTE
CULVER CITY,CA90230
  PC GENERAL OPERATING 5,000

LEARNSERVE INTERNATIONAL

PO BOX 42182
WASHINGTON,DC20015
  PC GENERAL OPERATING 25,000

LIVING CLASSROOMS FOUNDATION

1417 THAMES ST
BALTIMORE,MD21231
  PC GENERAL OPERATING 25,000

MARINE CORPS ASSOCIATION FOUNDATION

715 BROADWAY STREET
QUANTICO,VA22134
  PC GENERAL OPERATING 4,000

MCLEAN PROJECT FOR THE ARTS

1446 CHAIN BRIDGE RD
MCLEAN,VA22101
  PC GENERAL OPERATING 15,000

MILITARY BOWL FOUNDATION

1742 N ST NW
WASHINGTON,DC20036
  PC GENERAL OPERATING 6,000

NACV INC

4906 KANSAS AVE NW
WASHINGTON,DC20011
  PC GENERAL OPERATING 10,000

NATIONAL HISPANIC FOUNDATION FOR THE ARTS

1050 CONNECTICUT AVE NW
WASHINGTON,DC20036
  PC GENERAL OPERATING 1,000

PENN STATE DANCE MARATHON

PO BOX 924
STATE COLLEGE,PA16804
  PC GENERAL OPERATING 5,150

POTOMAC COMMUNITY RESOURCES INC

9200 KENTSDALE DR
POTOMAC,MD20854
  PC GENERAL OPERATING 2,500

REHOBOTH ART LEAGUE

12 DODDS LN
REHOBOTH BEACH,DE19971
  PC GENERAL OPERATING 500

REHOBETH BEACH VOLUNTEER FIRE COMPANY

PO BOX 327
REHOBOTH BEACH,DE19971
  PC GENERAL OPERATING 1,000

SCHOLARCHIPS

22 GALLATIN STREET NE
WASHINGTON,DC20011
  PC GENERAL OPERATING 5,000

SHARE INC

PO BOX 1342
BEVERLY HILLS,CA90213
  PC GENERAL OPERATING 2,500

SIBLEY MEMORIAL HOSPITAL FOUNDATION

5255 LOUGHBORO RD NW
WASHINGTON,DC20016
  PC GENERAL OPERATING 50,000

SO KIDS SOAR

1050 CONNECTICUT AVE NW
WASHINGTON,DC20006
  PC GENERAL OPERATING 5,000

SOME

71 O STREET
WASHINTON,DC20001
  PC GENERAL OPERATING 25,000

SPORTSMOM FOUNDATION

1701 PENNSYLVANIA AVE NW
WASHINGTON,DC20006
  PC GENERAL OPERATING 5,000

ST ALPHONSUS RODRIQUEZ CHURCH OF WOODSTOCK

10800 OLD COURT RD
WOODSTOCK,MD21163
  PC GENERAL OPERATING 2,500

ST JOHNS COLLEGE HIGH SCHOOL

2607 MILITARY ROAD
CHEVY CHASE,DC20015
  PC GENERAL OPERATING 10,000

THE FOUNDATION FOR AIDS RESEARCH

120 WALL STREET
NEW YORK,NY10005
  PC GENERAL OPERATING 50,000

THE REEL FILM FOUNDATION

1882 SPRUCE CREEK BLVD
PORT ORANGE,FL32128
  PC GENERAL OPERATING 1,000

TOUCHING HEART

PO BOX 710282
HERNDON,VA20171
  PC GENERAL OPERATING 7,500

TRAINING GROUNDS INC

4193 MINNESOTA AVE NE
WASHINGTON,DC20019
  PC GENERAL OPERATING 10,000

WARTBURG COLLEGE

100 WARTBURG BLVD
WAVERLY,IA50677
  PC GENERAL OPERATING 3,000

WASHINGTON INTERNATIONAL SCHOOL

3100 MACOMB STREET NW
WASHINGTON,DC20008
  PC GENERAL OPERATING 15,000

YELLOW RIBBON FUND

PO BOX 41048
BETHESDA,MD20824
  PC GENERAL OPERATING 6,150

YOUTH ENTREPRENEUR INSTITUTE

1231 GOOD HOPE RD SE
WASHINGTON,DC20020
  PC GENERAL OPERATING 5,000
Total .................................right arrow 3a 672,732
bApproved for future payment
Total ................................. right arrow 3b 0
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 6,138  
4 Dividends and interest from securities ....     14 157,901  
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 1,438,105  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
a2022 FEDERAL TAX REFUND
    01 5,979  
bOTHER INCOME - NBM INVESTMENT FUND II, LP     14 773  
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 0 1,608,896 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
1,608,896
(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

TY 2023 AccountingFeesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
TAX & ACCOUNTING FEES 4,600 2,300   2,300

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

TY 2023 DepreciationSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
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
2019 LEASEHOLD IMPROVEMENTS 2019-07-01 109,868 25,637 SL 15.000000000000 7,325 0    
2020 LEASEHOLD IMPROVEMENTS 2020-09-01 104,345 17,390 SL 15.000000000000 6,956 0    
2021 LEASEHOLD IMPROVEMENTS 2021-11-01 103,876 7,791 SL 15.000000000000 6,925 0    
2022 LEASEHOLD IMPROVEMENTS 2022-11-01 17,475 146 SL 15.000000000000 1,165 0    
2023 LEASEHOLD IMPROVEMENTS 2023-05-17 7,695   SL 15.000000000000 64 0    

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

TY 2023 ExpenditureResponsibilityStmt
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Grantee's Name Grantee's Address Grant Date Grant Amount Grant Purpose Amount Expended By Grantee Any Diversion By Grantee? Dates of Reports By Grantee Date of Verification Results of Verification
ASPEN SPARK
 
900 16TH STREET
WASHINGTON,DC20006
2021-06-07 176,600 TO CONNECT STUDENTS WITH LEARNING RESOURCES. 176,600 N/A 11/14/22, 10/18/23, 10/9/24 2024-10-09 FUNDS FULLY USED IN ACCORDANCE WITH THE KIMSEY FOUNDATION'S INTENDED PURPOSE.
ASPEN SPARK
 
900 16TH STREET
WASHINGTON,DC20006
2022-12-31 75,000 TO CONNECT STUDENTS WITH LEARNING RESOURCES. 75,000 N/A 10/18/23, 10/09/24 2024-10-09 FUNDS FULLY USED IN ACCORDANCE WITH THE KIMSEY FOUNDATION'S INTENDED PURPOSE.
ASPEN SPARK
 
900 16TH STREET
WASHINGTON,DC20006
2023-12-31 80,000 TO CONNECT STUDENTS WITH LEARNING RESOURCES. 7,727 N/A 10/09/24 2024-10-09 FUNDS USED IN ACCORDANCE WITH THE KIMSEY FOUNDATION'S INTENDED PURPOSE. REMAINDER TO BE USED IN 2024.

TY 2023 InvestmentsOtherSchedule2
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
INVESTMENT ACCOUNTS FMV 25,317,507 25,317,507
GREYCROFT GROWTH FUND FMV 1,755,125 1,755,125
NBM INVESTMENTS II FMV 556,612 556,612
RVPII UBTI FEEDER LP FMV 1,709,468 1,709,468
OTHER RECEIVABLES FMV 4,865 4,865

TY 2023 LandEtcSchedule2
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category / Item Cost / Other Basis Accumulated Depreciation Book Value End of Year Fair Market Value
2019 LEASEHOLD IMPROVEMENTS 109,868 32,962 76,906  
2020 LEASEHOLD IMPROVEMENTS 104,345 24,346 79,999  
2021 LEASEHOLD IMPROVEMENTS 103,876 14,716 89,160  
2022 LEASEHOLD IMPROVEMENTS 17,475 1,311 16,164  
2023 LEASEHOLD IMPROVEMENTS 7,695 64 7,631  


TY 2023 LegalFeesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
LEGAL FEES 11,654 5,827   5,827


TY 2023 OtherExpensesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
BANK AND SERVICE FEES 3,953 0   3,953
COMPUTER SUPPORT 19,550 0   19,550
DUES AND SUBSCRIPTION 15,021 0   15,021
FEES & LICENSES 452 0   452
INSURANCE 3,797 0   3,797
INVESTMENT MANAGEMENT FEES 36,194 36,194   0
MEALS & ENTERTAINMENT 3,527 0   3,527
OFFICE SUPPLIES 12,974 0   12,974
POSTAGE & DELIVERY 1,529 0   1,529
REPAIRS AND MAINTENANCE 10,682 0   10,682
SECURITY 602 0   602
TELEPHONE AND INTERNET 16,170 0   16,170
WEB MAINTENANCE 763 0   763
PARTNERSHIP EXPENSES 41,546 41,546   0
PODCAST ENGINEERS 9,586 0   9,586
EQUIPMENT RENTAL 757 0   757


TY 2023 OtherIncomeSchedule2
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
2022 FEDERAL TAX REFUND 5,979   5,979
OTHER INCOME - NBM INVESTMENT FUND II, LP 773 773 773


TY 2023 OtherIncreasesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Description Amount
UNREALIZED GAIN/(LOSS) 7,847,951


TY 2023 OtherLiabilitiesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Description Beginning of Year - Book Value End of Year - Book Value
EMPLOYEE 401(K) PAYABLE 963 963
CREDIT CARD PAYABLE 25,681 28,453


TY 2023 OtherProfessionalFeesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
OTHER PROFESSIONAL SERVICES 3,910 1,955   1,955


TY 2023 TaxesSchedule
Name:
KIMSEY FOUNDATION
EIN:
52-2007895
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL TAXES 20,979 0   0