TY 2023 Form 990PF

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.............
	2	Savings and temporary cash investments.........	285,472	968,841	968,841
	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)
	b	Investments—corporate stock (attach schedule).......	5,351,296	List of Attached Documents: // Content 5,269,679	7,927,663
	c	Investments—corporate bonds (attach schedule).......	3,367,806	List of Attached Documents: // Content 3,758,038	3,506,204
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	2,687,374	List of Attached Documents: // Content 665,800	642,841
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	11,691,948	10,662,358	13,045,549
	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
		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........
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds	11,691,948	10,662,358
	29	Total net assets or fund balances (see instructions).....	11,691,948	10,662,358
	30	Total liabilities and net assets/fund balances (see instructions).	11,691,948	10,662,358

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

11,691,948

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

-1,029,590

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

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

10,662,358

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 .

10,662,358

(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	MARKETABLE SECURITIES	P
b	MARKETABLE SECURITIES	P
c	MARKETABLE SECURITIES	P
d	MARKETABLE SECURITIES	P
e	LONE CEDAR LTD.	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	183,750	180,117	3,633
b	555,705	559,529	-3,824
c	405,095	402,902	2,193
d	674,903	654,870	20,033
e	1,436,024	2,073,638	-637,614

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			3,633
b			-3,824
c			2,193
d			20,033
e			-637,614

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	-615,579
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	5,826

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	4,032
b	All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2
3	Add lines 1 and 2...........................	3	4,032
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	4,032
6	Credits/Payments:

a	2023 estimated tax payments and 2022 overpayment credited to 2023	6a	32,014
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c
d	Backup withholding erroneously withheld ..........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	32,014
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8
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	27,982
11	Enter the amount of line 10 to be: Credited to 2024 estimated tax27,982	Refunded	11

(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
THEODORE P SHEN	TRUSTEE 0.10	0	0	0
C/O SILVERCREST 230 COURT SQUARE CHARLOTTESVILLE,VA22902
CARLA SHEN	TRUSTEE 0.10	0	0	0
C/O SILVERCREST 230 COURT SQUARE CHARLOTTESVILLE,VA22902

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

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1	N/A
2


All other program-related investments. See instructions.
3

		(a) Corpus	(d) 2023
1 Distributable amount for 2023 from Part X, line 7			601,029
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......
b Total for prior years:20 , 20, 20
3 Excess distributions carryover, if any, to 2022:
a From 2018......	1,047,911
b From 2019......	1,832,105
c From 2020......	495,715
d From 2021......	482,688
e From 2022......	613,880
f Total of lines 3a through e ........		4,472,299
4Qualifying distributions for 2023 from Part
XI, line 4: $ 1,087,492
a Applied to 2022, but not more than line 2a
b Applied to undistributed income of prior years (Election required—see instructions).....
c Treated as distributions out of corpus (Election required—see instructions)........
d Applied to 2023 distributable amount.....			601,029
e Remaining amount distributed out of corpus		486,463
5 Excess distributions carryover applied to 2023.
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		4,958,762
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........
e Undistributed income for 2022. Subtract line 4a from line 2a. Taxable amount—see instructions .............
f Undistributed income for 2023. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2024 ..........			0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......
8 Excess distributions carryover from 2018 not applied on line 5 or line 7 (see instructions) ...		1,047,911
9 Excess distributions carryover to 2024. Subtract lines 7 and 8 from line 6a ......		3,910,851
10 Analysis of line 9:
a Excess from 2019....	1,832,105
b Excess from 2020....	495,715
c Excess from 2021....	482,688
d Excess from 2022....	613,880
e Excess from 2023....	486,463

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

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:

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
AMERICAN BALLET THEATRE FDN 890 BROADWAY NEW YORK,NY10003	NONE	PUBLIC	GENERAL	260,000
BARD COLLEGE 30 CAMPUS ROAD ANNANDALEONHUDSON,NY12504	NONE	PUBLIC	GENERAL	25,000
BAY STREET THEATRE FESTIVAL INC 1 LONG WHARF SAG HARBOR,NY11963	NONE	PUBLIC	GENERAL	20,000
BRIC 647 FULTON STREET BROOKLYN,NY11217	NONE	PUBLIC	GENERAL	2,500
BROOKLYN BOTANIC GARDEN 900 WASHINGTON AVE BROOKLYN,NY11225	NONE	PUBLIC	GENERAL	2,500
BROOKLYN MUSEUM 200 EASTERN PARKWAY BROOKLYN,NY11238	NONE	PUBLIC	GENERAL	157,000
CITY SQUASH 602 E 187TH STREET 204 BRONX,NY10458	NONE	PUBLIC	GENERAL	2,500
GREEN-WOOD HISTORIC FUND 500 25TH STREET BROOKLYN,NY11232	NONE	PUBLIC	GENERAL	30,000
MASTERS SCHOOL 49 CLINTON AVENUE BOBBS FERRY,NY10522	NONE	PUBLIC	GENERAL	15,000
MEMORIAL SLOAN-KETTERING 1275 YORK AVENUE NEW YORK,NY10065	NONE	PUBLIC	GENERAL	50,000
NEW YORK CITY BALLET 20 LINCOLN CENTER NEW YORK,NY10023	NONE	PUBLIC	GENERAL	250,000
PACKER COLLEGIATE INSTITUTE 170 JORALEMON STREET BROOKLYN,NY11201	NONE	PUBLIC	GENERAL	25,000
PARK AVENUE ARMORY 643 PARK AVE NEW YORK,NY10065	NONE	PUBLIC	GENERAL	25,000
PETER FOLEY MUSIC PROJECT INC 2537 BROADWAY 95TH ST NEW YORK,NY100256990	NONE	PUBLIC	GENERAL	15,000
PRINCETON BALLET SOCIETY 301 N HARRISON ST PRINCETON,NJ08540	NONE	PUBLIC	GENERAL	60,000
PUBLIC ART FUND 1 E 53RD STREET 12 NEW YORK,NY10022	N/A	N/A	GENERAL	2,500
RED BULL THEATER 191 7TH AVENUE NEW YORK,NY10011	NONE	PUBLIC	GENERAL	12,500
SIGNATURE THEATRE INC 555 W 42ND STREET NEW YORK,NY10036	NONE	PUBLIC	GENERAL	25,000
THE ACTING COMPANY PO BOX 898 NEW YORK,NY10108	NONE	PUBLIC	GENERAL	1,000
THE ALDRICH CONTEMPORARY ART MUSEUM 258 MAIN ST RIDGEFIELD,CT06877	NONE	PUBLIC	GENERAL	2,000
THE HOPE PROGRAM ONE SMITH STREET BROOKLYN,NY11201	NONE	PUBLIC	GENERAL	15,000
THE MOVEMENT THEATRE COMPANY 279 W 117TH ST 2Q NEW YORK,NY10026	NONE	PUBLIC	GENERAL	13,200
THE VIVIAN BEAUMONT THEATRE 150 W 65TH STREET NEW YORK,NY10023	NONE	PUBLIC	GENERAL	35,000
THEATRE LATTE DA 345 13TH AVE NE MINNEAPOLIS,MN55413	NONE	PUBLIC	GENERAL	21,792
YALE UNIVERSITY PO BOX 2038 NEW HAVEN,CT06521	NONE	PUBLIC	GENERAL	20,000
Total ................................. 3a				1,087,492

	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)	384,178
2	Check .............
3	Interest on savings and temporary cash investments	5,391		5,391
4	Dividends and interest from securities...	316,657		316,657
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		-615,579
b	Gross sales price for all assets on line 6a 3,255,477
7	Capital gain net income (from Part IV, line 2)...
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	-543	-543
12	Total. Add lines 1 through 11........	90,104		321,505
13	Compensation of officers, directors, trustees, etc.
14	Other employee salaries and wages......
15	Pension plans, employee benefits.......
16a	Legal fees (attach schedule).........
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....	List of Attached Documents: // Content	28,270	28,270
17	Interest...............
18	Taxes (attach schedule) (see instructions)...	List of Attached Documents: // Content	3,932	3,182
19	Depreciation (attach schedule) and depletion...
20	Occupancy..............
21	Travel, conferences, and meetings.......
22	Printing and publications..........
23	Other expenses (attach schedule).......
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	32,202		31,452	0
25	Contributions, gifts, grants paid.......	1,087,492			1,087,492
26	Total expenses and disbursements. Add lines 24 and 25	1,119,694		31,452	1,087,492
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-1,029,590
b	Net investment income (if negative, enter -0-)			290,053
c	Adjusted net income (if negative, enter -0-)...

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

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	523000
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	5,391
4 Dividends and interest from securities ....			14	316,657
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	-615,579
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aPARTNERSHIP INCOME			14	-543
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..				-294,074

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

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.


(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...................

bApproved for future payment

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

Name of organization THE SHEN FAMILY FOUNDATION

Part I Contributors	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
1	SHEN FAMILY 2003 CLAT C/O SILVERCREST 230 COURT SQUARE CHARLOTTESVILLE, VA22902	$ 384,178	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (2023)

Name of organization THE SHEN FAMILY FOUNDATION		Employer identification number 22-6627837

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (2023)


Name of organization THE SHEN FAMILY FOUNDATION			Employer identification number 22-6627837
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

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