TY 2023 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
right arrow

Go 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
KARUNA FOUNDATION

Number and street (or P.O. box number if mail is not delivered to street address)3514 N VANCOUVER AVENUE 320
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PORTLAND, OR97227

A Employer identification number

27-2831197

B Telephone number (see instructions)

(503) 841-5206

C If exemption application is pending, check here right arrow

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. right arrow

2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... right arrow

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... right arrow

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) right arrow

$18,119,973J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	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	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments	7,474		7,474
4	Dividends and interest from securities...	212,315		211,068
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-183,371
b	Gross sales price for all assets on line 6a 5,640,305
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).......	List of Attached Documents: // Content	76,294	79,518
12	Total. Add lines 1 through 11........	112,712		298,060
13	Compensation of officers, directors, trustees, etc.	140,000		21,000	119,000
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......	35,531		5,330	30,201
16a	Legal fees (attach schedule).........	List of Attached Documents: // Content	810	0	810
b	Accounting fees (attach schedule).......	List of Attached Documents: // Content	17,616	0	17,616
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	168,892	77,950	90,942
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	6,898	4,898	0
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......	135,014		0	135,014
22	Printing and publications..........
23	Other expenses (attach schedule).......	List of Attached Documents: // Content	79,079	65,288	13,791
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	583,840		174,466	407,374
25	Contributions, gifts, grants paid.......	829,512			829,512
26	Total expenses and disbursements. Add lines 24 and 25	1,413,352		174,466	1,236,886
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,300,640
b	Net investment income (if negative, enter -0-)			123,594
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	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............	41,071	17,506	17,506
	2	Savings and temporary cash investments.........	201,037	103,280	103,280
	3	Accounts receivable
		Less: allowance for doubtful accounts
	4	Pledges receivable
		Less: allowance for doubtful accounts
	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)
		Less: allowance for doubtful accounts
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)	186,144	List of Attached Documents: // Content 191,325	191,325
	b	Investments—corporate stock (attach schedule).......	4,245,147	List of Attached Documents: // Content 4,197,022	4,197,022
	c	Investments—corporate bonds (attach schedule).......	2,348,233	List of Attached Documents: // Content 2,839,799	2,839,799
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	9,980,200	List of Attached Documents: // Content 10,771,041	10,771,041
	14	Land, buildings, and equipment: basis 29,243
		Less: accumulated depreciation (attach schedule) 29,243
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	17,001,832	18,119,973	18,119,973
	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 )
	23	Total liabilities (add lines 17 through 22).........	0	0
		Foundations that follow FASB ASC 958, check here
		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
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	17,001,832	18,119,973
	27	Paid-in or capital surplus, or land, bldg., and equipment fund	0	0
	28	Retained earnings, accumulated income, endowment, or other funds	0	0
	29	Total net assets or fund balances (see instructions).....	17,001,832	18,119,973
	30	Total liabilities and net assets/fund balances (see instructions).	17,001,832	18,119,973

Part III

Analysis of Changes in Net Assets or Fund Balances

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) ...............

17,001,832

Enter amount from Part I, line 27a .....................

-1,300,640

Other increases not included in line 2 (itemize) right arrow

List of Attached Documents:

// Content

2,418,781

Add lines 1, 2, and 3 ..........................

18,119,973

Decreases not included in line 2 (itemize) right arrow

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

18,119,973

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
1 a	PUBLICLY TRADED SECURITIES	P
b	CAPITAL LOSS REPORTED ON SCHEDULES K-1	P
c	CAPITAL GAINS DIVIDENDS	P
d
e

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	5,636,187	5,683,775	-47,588
b			-139,901
c	4,118		4,118
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			-47,588
b			-139,901
c			4,118
d
e

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	-183,371
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 ...................		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 and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)	1	1,718
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	1,718
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	1,718
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	5,805
b	Exempt foreign organizations—tax withheld at source......	6b	0
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ..........	6d	0

7	Total credits and payments. Add lines 6a through 6d..............		7	5,805
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.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	4,087
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax4,087	Refunded	11	0

Form 990-PF (2023)

Page 4

Part VI-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions

for the definition.................................

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.

Did the foundation file Form 1120-POL for this year?.....................

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

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. right arrow

$ 0

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

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....

Did the foundation have unrelated business gross income of $1,000 or more during the year?.........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

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? ................

Yes

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..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

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 .

Yes

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 .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

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 .............

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.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address right arrow

WWW.KARUNAFOUND.ORG

The books are in care of right arrow

THE FOUNDATION Telephone no. right arrow

(503) 841-5206

Located at right arrow

3514 N VANCOUVER AVENUE 320PORTLANDOR ZIP+4 right arrow

97227

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

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)

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

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)

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person? ..............................

1a(2)

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........

1a(3)

(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)

(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)

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 ..........

Organizations relying on a current notice regarding disaster assistance check here ........ right arrow

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? .............

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)):

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?....................

If "Yes," list the years right arrow

20, 20, 20, 20

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.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year? ..............................

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.) .....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

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? ..

Form 990-PF (2023)

Page 6

Part VI-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........

5a(1)

(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)

(3) Provide a grant to an individual for travel, study, or other similar purposes? .............

5a(3)

(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)

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 ........

Organizations relying on a current notice regarding disaster assistance check ......... right arrow

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? .................

Yes

If "Yes," attach the statement required by Regulations section 53.4945–5(d). Click to see attachment

List of Attached Documents:

// Content

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? .............................

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?

If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....

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? .........................

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
LINDSAY SKOG	EXECUTIVE DIRECTOR 40.00	140,000	16,895	450
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	EXECUTIVE DIRECTOR 40.00	140,000	16,895	450
ERIC LEMELSON	PRESIDENT 4.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	PRESIDENT 4.00	0	0	0
TOM NOVICK	SECRETARY 2.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	SECRETARY 2.00	0	0	0
JENNIFER BRUML	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
LISA DANZIG	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
BRAD HARRISON	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
PATRICK MALONEY	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
JULIA NOVY	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
HOLLY PRUETT	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0
AMY WONG	DIRECTOR 1.00	0	0	0
3514 N VANCOUVER AVENUE SUITE 320 PORTLAND,OR97227	DIRECTOR 1.00	0	0	0

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

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
ARCTIC SUN LLC	BUILDING CONSULTANT	89,567
1050 DEERE STREET FAIRBANKS,AK99709	BUILDING CONSULTANT	89,567
TIEDEMANN ADVISORS	INVESTMENT ADVISORY SERVICES	77,950
1120 NW COUCH STREET SUITE 410 PORTLAND,OR97209	INVESTMENT ADVISORY SERVICES	77,950

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	CHARITABLE COSTS INCURRED IN THE BUILDING OF A LAW SCHOOL LIBRARY.	92,210
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)

Page 8

Part IX

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

9,328,979

Average of monthly cash balances.......................

207,440

Fair market value of all other assets (see instructions)................

7,918,562

Total (add lines 1a, b, and c).........................

17,454,981

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

17,454,981

Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see

instructions) .............................

261,825

Net value of noncharitable-use assets. Subtract line 4 from line 3. ............

17,193,156

Minimum investment return. Enter 5% (0.05) of line 5................

859,658

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.)

Minimum investment return from Part IX, line 6..................

859,658

Tax on investment income for 2022 from Part V, line 5.......

1,718

Income tax for 2022. (This does not include the tax from Part V.) ...

Add lines 2a and 2b............................

1,718

Distributable amount before adjustments. Subtract line 2c from line 1............

857,940

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

857,940

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...

857,940

Part XI

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

1,236,886

Program-related investments—total from Part VIII-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......

1,236,886

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					857,940
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......	658,161
b From 2019......	144,832
c From 2020......	58,370
d From 2021......
e From 2022......	45,023
f Total of lines 3a through e ........		906,386
4Qualifying distributions for 2023 from Part
XI, line 4: $ 1,236,886
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.....					857,940
e Remaining amount distributed out of corpus		378,946
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		1,285,332
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) ...		658,161
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		627,171
10 Analysis of line 9:
a Excess from 2019....	144,832
b Excess from 2020....	58,370
c Excess from 2021....
d Excess from 2022....	45,023
e Excess from 2023....	378,946

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 4942(j)(3) or4942(j)(5)

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	(e) Total

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).)

ERIC LEMELSON

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

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

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)

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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
BHUTAN FOUNDATION 21 DUPONT CIRCLE NW SUITE 755 WASHINGTON,DC20036		PC	GENERAL OPERATING SUPPORT	40,000
BHUTAN FOUNDATION 21 DUPONT CIRCLE NW SUITE 755 WASHINGTON,DC20036		PC	GENERAL OPERATING FUNDS BHUTAN ECOLOGICAL SOCIETY	54,000
BHUTAN FOUNDATION 21 DUPONT CIRCLE NW SUITE 755 WASHINGTON,DC20036		PC	SMALL GRANTS PROGRAM	25,000
BHUTAN FOUNDATION 21 DUPONT CIRCLE NW SUITE 755 WASHINGTON,DC20036		PC	LEGAL EDUCATION	328,012
BHUTAN FOUNDATION 21 DUPONT CIRCLE NW SUITE 755 WASHINGTON,DC20036		PC	CLIMATE CHANGE PROGRAMMING	127,500
INTERNATIONAL CRYOSPHERE CLIMATE INITIATIVE 281 SARGENT HILL ROAD PAWLET,VT05761		PC	GENERAL OPERATING SUPPORT	5,000
JSW BHUTAN LEGAL EDUCATION FOUNDATION C/O WHITE AND CASE LLP 1221 AVENUE OF THE AMERICAS JO WEISS NEW YORK,NY10020		PF	SUPPORT FOR CLIMATE CHANGE INSTITUTE AT JSW SCHOOL OF LAW	250,000
Total ................................. 3a				829,512

bApproved for future payment

Total ................................. 3b				0

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	(e) Related or exempt function income (See instructions.)
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	7,474
4 Dividends and interest from securities ....			14	212,315
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	-183,371
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INT/DIV FROM PASS THROUGH INVESTMENTS REPORTED ON SCH K-1			14	101,432
bOTHER GAIN/LOSS FROM PASS THROUGH INVEST REPORTED ON SCH K-1			01	-21,914
cOTHER UBIT LOSSES FROM PASS THROUGH INVESTMENTS REPORTED ON K-1	523000	-3,224
d
e
12 Subtotal. Add columns (b), (d), and (e) ..		-3,224		115,936	0

13Total. Add line 12, columns (b), (d), and (e)..................

112,712

(See worksheet in line 13 instructions to verify calculations.)

Part XV-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	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)

Page 13

Part XVI

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

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

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

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

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? ...........Yes No

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.
				May the IRS discuss this return with the preparer shown below? See instructions. Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2023)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

- TIN:

TY 2023 AccountingFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
GARY MCGEE & CO. LLP	8,336	0		8,336
SENSIBA SAN FILIPPO, LLP	9,280	0		9,280

- TIN:

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

TY 2023 ExpenditureResponsibilityStmt

Name:

KARUNA FOUNDATION

EIN:

27-2831197

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
JSW BHUTAN LEGAL EDUCATION FOUNDATION	C/O WHITE AND CASE LLP 1221 AVENUE OF AMERICAS JO NEW YORK,NY10020	2023-07-19	250,000	SUPPORT FOR CLIMATE CHANGE INSTITUTE AT JSW SCHOOL OF LAW.	250,000	NONE	3/13/24	2024-03-13	GRANTEE IS SUBJECT TO STRICT BUDGETARY AND SPENDING OVERSIGHT BY THE BHUTANESE GOVERNMENT AND BY THE GRANTOR. NO QUESTIONS OR ISSUES HAVE BEEN IDENTIFIED IN THESE REVIEWS.

- TIN:

TY 2023 InvestmentsCorpBondsSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Name of Bond	End of Year Book Value	End of Year Fair Market Value
ABBVIE INC SER B NOTE	61,370	61,370
APPLE INC NOTE	73,167	73,167
AMERICAN EXPRESS CO NOTE	66,315	66,315
AMGEN INC NOTE	59,509	59,509
AT&T INC NOTE	65,901	65,901
BANK AMERICA CORP SER N MTN	76,926	76,926
BANK NEW YORK MELLON CORP MTN 02/01/34	77,272	77,272
COMCAST CORP NEW NOTE	27,853	27,853
COMMONSPIRIT HEALTH SER 2019 BOND	38,762	38,762
CONSERVATION FD/SUSTAINABLE BOND	92,617	92,617
EUROPEAN INVT BK NOTE	156,403	156,403
EQUINIX INC NOTE	64,670	64,670
HEALTHPEAK PROPERTIES INC	35,586	35,586
INTER-AMERICAN DEV BK SER 817 NOTE 1/13/27	201,868	201,868
INTER-AMERICAN DEVELOPMENT BANK 09/18/28	235,861	235,861
INTER-AMERICAN DEC BK NOTE	187,082	187,082
INTERNATIONAL BK FOR RECON&DEV NOTE 07/29/25	54,297	54,297
INTERNATIONAL BK FOR RECON&DEV SER 11529 10/27/26	187,978	187,978
INTERNATIONAL BK FOR RECON&DEV NOTE 09/13/28	175,466	175,466
INTERNATIONAL BK FOR RECON&DEV NOTE 08/26/30	124,543	124,543
INTERNATIONAL BK FOR RECON&DEV NOTE 02/10/31	99,888	99,888
INTERNATIONAL BK FOR RECON & DEV SERV 101526 03/29/32	171,414	171,414
MICROSOFT CORP NOTE	79,190	79,190
PEPSICO INC NOTE	79,338	79,338
PNC FINL SVCS GROUP INC NOTE	76,806	76,806
SALESFORCE INC NOTE	69,182	69,182
STATE STREET CORP NOTE	67,069	67,069
THE SIGNA GROUP SER C NOTE	67,460	67,460
TRUIST FINL CORP SERG MTN	66,006	66,006

- TIN:

TY 2023 InvestmentsCorpStockSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES	59,548	59,548
ABBVIE INC	43,856	43,856
ACCENTURE	48,776	48,776
ACUITY BRANDS INC	19,254	19,254
ADOBE SYSTEMS INC	38,779	38,779
ADVANCED MICRO DEVICES INC	25,944	25,944
AECOM	60,819	60,819
AFLAC INC	28,957	28,957
ALLISON TRANSMISSION HOLDINGS INC	13,026	13,026
ALLSTATE CORP	5,039	5,039
ALPHABET INC CAP STK CL A	97,224	97,224
ALPHABET INC CAP STK CL C	93,014	93,014
AMAZON.COM INC	124,591	124,591
AMBAC FINANCIAL GROUP INC	2,637	2,637
AMERICAN EAGLE OUTFITTERS INC COM	2,328	2,328
AMERICAN EXPRESS CO	22,293	22,293
AMERICAN WATER WORKS COMPANY INC	6,071	6,071
AMGEN INC	24,770	24,770
ANALOG DEVICES INC	3,773	3,773
AON	7,857	7,857
APPLE INC	308,048	308,048
APPLIED MATERIALS INC	8,103	8,103
APTARGROUP INC	5,068	5,068
ARRAY TECHNOLOGIES INC COM	370	370
AT&T INC	21,361	21,361
AUTODESK INC	7,791	7,791
AUTOMATIC DATA PROCESSING INC	9,319	9,319
BADGER METER INC	10,497	10,497
BALL CORP	2,646	2,646
BANK OF AMERICA CORP	47,205	47,205
BANK OF NEW YORK MELLON CORP COM	20,091	20,091
BAXTER INTERNATIONAL INC COM	2,281	2,281
BLACKROCK INC	9,742	9,742
CATERPILLAR INC	9,757	9,757
CENCORA INC COM	10,064	10,064
CHIPOTLE MEXICAN GRILL INC	9,148	9,148
CHUBB LIMITED	17,402	17,402
CHURCH & DWIGHT	47,753	47,753
THE CIGNA GROUP COM	37,132	37,132
CISCO SYSTEMS INC	38,446	38,446
COCA-COLA CO	46,201	46,201
COMCAST CORP	8,288	8,288
COMMERCIAL METALS CO	3,453	3,453
CONAGRA BRANDS INC	3,697	3,697
CONSTELLATION BRANDS INC	11,604	11,604
CUMMINS INC	22,040	22,040
DANAHER CORPORATION	18,276	18,276
DARDEN RESTAURANTS INC	3,943	3,943
DARLING INGREDIENTS INC	23,923	23,923
DEERE & CO	42,786	42,786
DELL TECHNOLOGIES INC	23,562	23,562
DENTSPLY SIRONA INC	2,634	2,634
ECOLAB INC	2,975	2,975
ELEVANCE HEALTH INC COM	16,505	16,505
ELI LILLY AND CO	22,151	22,151
EMBECTA CORP COMMON STOCK	38	38
ENERGY RECOVERY INC	6,142	6,142
ENPHASE ENERGY INC	4,228	4,228
FIRST SOLAR INC	11,715	11,715
FLEX LTD COM	1,340	1,340
FLUOR CORP	4,583	4,583
FMC CORP	22,320	22,320
FRANKLIN ELECTRIC INC	13,338	13,338
GE HEALTHCARE TECHNOLOGIES INC	155	155
GENERAL ELECTRIC CO	44,670	44,670
GENERAL MILLS INC	5,081	5,081
GENERAL MTRS CO	11,387	11,387
GOLDMAN SACHS GROUP INC	47,450	47,450
GRAINGER W W INC	19,060	19,060
HARTFORD FINANCIAL SERVICES GRP INC	68,323	68,323
HASBRO INC	4,340	4,340
HCA HEALTHCARE INC	812	812
HEWLETT PACKARD ENTERPRISE CO	17,914	17,914
HOME DEPOT INC	45,745	45,745
HP INC	6,560	6,560
IDEX CORP	12,158	12,158
ILLINOIS TOOL WORKS INC	3,929	3,929
INNOSPEC INC	68,768	68,768
INTEL CORP	36,431	36,431
INTERNATIONAL BUS MACH CORP	73,107	73,107
INTERPUBLIC GROUP COS INC	3,852	3,852
INTUIT INC	23,751	23,751
JACOBS SOLUTIONS INC	5,452	5,452
JOHN BEAN TECHNOLOGIES	10,343	10,343
JOHNSON & JOHNSON	120,533	120,533
JPMORGAN CHASE & CO	51,540	51,540
KB HOME	49,656	49,656
KLA CORPORATION	12,207	12,207
KBR INC COM	23,715	23,715
KROGER CO	15,999	15,999
KYNDRYL HOLDINGS INC	21	21
L3HARRIS TECHNOLOGIES INC	7,161	7,161
LAS VEGAS SANDS CORP	4,183	4,183
LINCOLN ELECTRIC HOLDINGS	5,437	5,437
LOCKHEED MARTIN CORP	11,331	11,331
LOWES COMPANIES INC	14,243	14,243
MACYS INC	4,306	4,306
MARSH & MCLENNAN COMPANIES INC	28,610	28,610
MASTERCARD INC	53,740	53,740
MCCORMICK & COMPANY INC	2,189	2,189
MCKESSON CORP	13,426	13,426
MERCK & CO INC	80,130	80,130
MERITAGE HOMES CORP	31,530	31,530
META PLATFORMS INC	87,782	87,782
MICROSOFT CORP	344,077	344,077
MOODYS CORP	2,343	2,343
MORGAN STANLEY	11,563	11,563
MOTOROLA SOLUTIONS INC	19,412	19,412
NASDAQ INC COM STK	9,768	9,768
NETAPP INC	3,703	3,703
NEWMONT CORP	12,914	12,914
NIKE INC CLASS B	19,868	19,868
NORTHROP GRUMMAN CORP	1,404	1,404
NVIDIA CORP	165,899	165,899
OMNICOM GROUP INC	7,440	7,440
ORACLE CORP	9,594	9,594
ORGANON & CO	14	14
ORMAT TECHNOLOGIES INC	49,794	49,794
PACCAR INC COM	2,246	2,246
PAYPAL HLDGS INC	2,272	2,272
PFIZER INC	8,666	8,666
PNC FINANCIAL SERVICES GROUP	30,815	30,815
PRINCIPAL FINANCIAL GROUP	6,687	6,687
QUALCOMM INC	17,789	17,789
REGENERON PHARMACEUTICALS INC	12,296	12,296
RESMED INC	4,301	4,301
RTX CORPORATION COM	30,711	30,711
S&P GLOBAL INC	36,123	36,123
SALESFORCE.COM INC	49,733	49,733
SERVICENOW INC	6,358	6,358
SHERWIN WILLIAMS CO	18,402	18,402
SIGNET JEWELERS LIMITED	322	322
SPLUNK INC COM	9,750	9,750
STARBUCKS CORP	2,688	2,688
SUNNOVA ENERGY INTL INC	7,396	7,396
SUNPOWER CORP	2,927	2,927
SUNRUN INC	11,209	11,209
SYSCO CORP	33,201	33,201
T MOBILE US INC	10,261	10,261
TARGET CORP	18,799	18,799
TESLA INC	79,514	79,514
TEXAS INSTRUMENTS INC	341	341
THERMO FISHER SCIENTIFIC INC	21,762	21,762
TJX COMPANIES INC	8,255	8,255
TRAVELERS COMPANIES INC	23,430	23,430
UNITEDHEALTH GROUP INC	63,176	63,176
UNITED NATURAL FOODS COM	4,285	4,285
UNIVERSAL DISPLAY CORP	11,476	11,476
VALVOLINE INC	1,616	1,616
VERIZON COMMUNICATIONS INC	8,445	8,445
VISA INC	65,869	65,869
WABTEC	3,046	3,046
WALMART INC COM	21,913	21,913
WARNER BROS DISCOVERY INC COM	23	23
WELLS FARGO CO	26,825	26,825
WILLIAMS-SONOMA INC	22,599	22,599
XYLEM INC	60,153	60,153

- TIN:

TY 2023 InvestmentsGovtObligationsSch

Name:

KARUNA FOUNDATION

EIN:

27-2831197

US Government Securities - End of Year Book Value:

US Government Securities - End of Year Fair Market Value:

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

191,325

State & Local Government Securities - End of Year Fair Market Value:

191,325

- TIN:

TY 2023 InvestmentsOtherSchedule2

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
BOSTON PROPERTIES INC	FMV	17,963	17,963
BOSTON TRUST WALDEN BALANCED FUND	FMV	15,346	15,346
CALVERT EMERGING MARKETS EQUITY CL I	FMV	672,984	672,984
CALVERT FLEXIBLE BOND CLASS I	FMV	77,324	77,324
CALVERT SHORT DURATION INC FD I	FMV	116,241	116,241
CALVERT ULTRA SHORT DURATION INC CL I	FMV	158,021	158,021
CCM COMMUNITY IMPACT BOND FUND INSTL	FMV	15,693	15,693
COUSINS PPTYS INC COM	FMV	6,550	6,550
DIGITAL REALTY TRUST INC	FMV	22,206	22,206
DOUGLAS EMMETT INC	FMV	1,522	1,522
EMPIRE STATE REALTY TRUST INC	FMV	14,080	14,080
EQUINIX INC	FMV	20,135	20,135
FIMM TREASURY PORTFOLIO	FMV	117,777	117,777
FIMM TREASURY PORTFOLIO	FMV	10,183	10,183
FLEXSHARES STOXX GLOBAL ESG SELECT	FMV	53,981	53,981
FLEXSHARES STOXX US ESG SELECT INDEX	FMV	27,150	27,150
ISHARES MSCI EAFE EFT	FMV	542,897	542,897
ISHARES TR ESG AW MSCI EAFE	FMV	163,015	163,015
KILROY REALTY CORP	FMV	51,115	51,115
PARAMOUNT GROUP INC	FMV	31,335	31,335
PARNASSUS CORE EQUITY INSL	FMV	62,309	62,309
PROLOGIS INC	FMV	11,064	11,064
SIMON PROPERTY GROUP INC	FMV	2,710	2,710
VORNADO REALTY TRUST	FMV	20,877	20,877
AKO GLOBAL FUND LIMITED CLASS A2 SHARES	FMV	795,678	795,678
FUNDSMITH SUSTAINABLE EQUITY FUND LP	FMV	2,243,000	2,243,000
IMPACT WORLD EQUITY FUND, LP	FMV	4,265,949	4,265,949
GLOBAL IMPACT ACCESS PARTNERSHIP II	FMV	414,515	414,515
GLOBAL IMPACT OPPORTUNITIES III	FMV	106,471	106,471
GREENBACKER RENEWABLE ENERGY	FMV	712,950	712,950

- TIN:

TY 2023 LegalFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
REZVANI LAW & CONSULTING LLC	810	0		810

- TIN:

TY 2023 OtherExpensesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
OTHER INVESTMENT EXPENSES FROM SCHEDULE K-1'S	65,288	65,288	0
MISCELLANEOUS EXPENSES	5,067	0	5,067
DUES AND TRAININGS	4,000	0	4,000
WEBSITE COSTS	1,736	0	1,736
OREGON DEPARTMENT OF JUSTICE REGISTRATION FEES	1,720	0	1,720
PROGRAM EQUIPMENT	1,268	0	1,268

- TIN:

TY 2023 OtherIncomeSchedule2

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
OTHER INT/DIV FROM PASS THROUGH INVESTMENTS REPORTED ON SCH K-1	101,432	101,432	101,432
OTHER GAIN/LOSS FROM PASS THROUGH INVEST REPORTED ON SCH K-1	-21,914	-21,914	-21,914
OTHER UBIT LOSSES FROM PASS THROUGH INVESTMENTS REPORTED ON K-1	-3,224		-3,224

- TIN:

TY 2023 OtherIncreasesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Description	Amount
UNREALIZED GAIN ON INVESTMENTS	2,418,781

- TIN:

TY 2023 OtherProfessionalFeesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Disbursements for Charitable Purposes
TIEDEMANN ADVISORS - INVESTMENT ADVISORY SERVICES	77,950	77,950	0
ARCTIC SUN LLC - BUILDING CONSULTANT	89,567	0	89,567
STAENGL ENGINEERING - BUILDING CONSULTANT	1,375	0	1,375

- TIN:

TY 2023 TaxesSchedule

Name:

KARUNA FOUNDATION

EIN:

27-2831197

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
FEDERAL EXCISE TAXES	2,000	0		0
FOREIGN TAXES	4,898	4,898		0